Dhaka: Bangladesh will focus its negotiations at the COP29 climate conference on boosting crucial funding for a plan that will benefit over 50 million people living in areas most at-risk to climate hazards, authorities said, as the summit began on Monday.

Bangladesh is one of the world’s most climate-vulnerable countries, ranking seventh globally in the 2021 World Climate Risk Index.

The South Asian nation faces frequent natural disasters, including cyclones, floods, droughts and deadly heat waves. By 2050, the government estimates that one in every seven Bangladeshis — or 13.3 million people — will be displaced due to climate change.

As world political and business leaders from nearly 200 countries gather in Baku, Azerbaijan this week for the UN’s annual meeting, Bangladeshi officials have set their goals on securing more climate financing.

“If we receive at least $1 billion as an annual grant to implement the climate change adaptation plan, it will create a significant change in dealing with climate change impacts,” Shawkat Ali Mirza, director of climate change and international convention at the Department of Environment, told Arab News.

“We don’t have this fund, and we are continuously working to bring this fund from developed countries. This is the main focus of our negotiations at the COP29.”

COP29 has been dubbed the “climate finance COP” due to its central goal: to agree on how much money should go every year to help developing countries cope with climate-related costs.

Annually, Bangladesh already spends between $3 to $3.5 billion to deal with climate change impacts, said Mirza, who is part of Dhaka’s delegation at COP29.

For decades, the government has made systematic investments in climate resilience and disaster preparedness, including reducing cyclone-related deaths by 100-fold since 1970. International institutions, such as the World Bank, have recognized Bangladesh as a “global leader in climate change adaptation.”

Under the National Adaptation Plan, authorities have identified at least 14 climate hazards in 11 locations — including along the Bay of Bengal — where almost a third of Bangladesh’s 170 million population currently live.

“The main objective of our national adaptation plan is to improve people’s quality of life by increasing climate tolerance … We need $230 billion by the year 2050 to implement it,” Mirza said.

“More than 50 million people living in these (climate) stress areas will benefit from this National Adaptation Plan in the next 27 years.”

Dhaka’s plan will cover eight sectors, including water resources, agriculture and biodiversity, where authorities will implement mechanisms for climate adaptation.

The government is building on its own success stories, such as the invention of rice varieties and production methods that are adaptable to climate change impacts as well as the distribution of around 6.5 million solar home systems across the country.

In its coastal areas, where over 43 million people live, authorities have already introduced rainwater harvesting systems and use reverse osmosis technology to provide safe drinking water.

“But we need to do more, as there are millions of people who are affected by climate change issues,” Mirza said.

Around 77 percent of the heat-trapping gas in the atmosphere can be traced back to G20 member states, while the 47 least developed countries — including Bangladesh — create less than 3 percent of global emissions, according to the UN Environment Programme’s 2024 Emissions Gap Report.

“We have to keep in mind that through adaptation, we will not be able to solve all the issues. For instance, if we want to get rid of heat stress, the whole world should work together on reducing emissions,” he said.

“Otherwise, there is no solution to the climate crisis.”