Project will enable Bangladesh to access and deliver long-term funding to implement its national climate plans.
Mott MacDonald has been appointed to design a pilot programme in Bangladesh that will enable the country to attract increasing flows of climate finance.
Appointed by the UK Foreign, Commonwealth and Development Office and working alongside the International Centre for Climate Change and Development, Mott MacDonald will design a new approach to the country’s access to climate finance. Ultimately, the project will enable Bangladesh to access and deliver the longer-term funding required to implement its national climate plans.
The project is part of the Taskforce on Access to Climate Finance, announced by the COP presidency in 2021 in response to calls for more coherent and effective support for developing countries’ efforts to achieve low carbon and climate resilient development pathways. The taskforce is currently co-chaired by the UK and Rwanda and has a steering committee of developing and climate vulnerable countries, bilateral and multilateral finance providers and dedicated climate funds.
Bangladesh is highly vulnerable to the impacts of climate change with more than 90 million people estimated to live in areas of high climate exposure. Last year, devasting floods, made more likely as a result of climate change, led to hundreds of deaths and left millions stranded. The Government of Bangladesh spends an estimated $1bn a year on climate change adaptation. However, the World Bank has estimated that the country needs $5.7bn in adaptation finance by 2050.
Mott MacDonald’s technical principal for climate finance, Virginie Fayolle, said: “Bangladesh is highly vulnerable to the impacts of climate change and it’s vital that the country is able to access the funding required to adapt, while at the same time transition to a green economy.
“Mott MacDonald has been working with governments, financial institutions and communities to unlock the investment required to tackle climate change for more than ten years and we are proud to be able to help accelerate climate finance for increasing climate resilience in Bangladesh.”
