Bangladesh has formally urged the international community to provide low-interest, long-term financing and fair trade benefits for implementing green industrialisation at the COP31 climate summit. The country's delegates emphasised the need for accessible technology and funding to establish carbon-neutral industrial facilities in developing nations.

Bangladesh's progress in green industrialisation

Reports indicate that Bangladesh's industrial facilities have already installed more than 600 megawatts of rooftop solar power generation capacity. This capacity is considered a significant step in expanding the use of renewable energy in the country. The progress in green industrialisation is expected to enhance the competitiveness of Bangladesh's export products in the international market.

Demand for financing and trade benefits

Bangladesh stated that developing countries cannot bear the massive financial burden of transitioning to green industrialisation alone. Ensuring low-interest, long-term loans, technology transfer, and fair trade benefits for green products is essential. The delegation also called for easier access to global climate funds with simplified conditions for developing nations.

Global context

Meanwhile, discussions at the climate summit have included a pledge targeting an annual investment of $156 billion to boost electrification efforts. Bangladesh aims to align its national plans with this global initiative. Experts believe that if this global financing target is met, developing countries like Bangladesh could secure the necessary capital for green industrialisation.

Next steps

The Bangladeshi delegation is expected to pursue concrete commitments on financing and technology support through bilateral and multilateral discussions in the next phase of the summit. The government has continued its policy support to make the country's industrial sector carbon-neutral.