The Global Environment Facility (GEF) Climate adaptation funds support the V20’s funding program with $5.3 million for community-based adaptation activities and will also leverage funding from other sources including those that will provide complementary support to address loss and damage from climate change. The 58 member countries of the Vulnerable Twenty (V20) Group are at the frontlines of the climate change problem having lost 20% of GDP growth (USD 525 billion) over the last two decades (2000-2019) due to climate-fueled risks. In response, the V20 Group proposed a funding program to deliver multilateral resources to front-line communities to address, avert and minimize the impacts of climate change on those most vulnerable. The proposal, which will support adaptation initiatives in the V20 member countries, secured an initial funding of USD 5.3 million from the Least Developed Countries Fund (LDCF) and Special Climate Change Fund (SCCF) Council at its 33rd meeting on December 2.  Ken Ofori-Atta, the Minister for Finance for the Republic of Ghana & Chair of the V20 Group welcomed the partnership with the Global Environment Facility (GEF) and highlighted that “we have to take a proactive approach towards doubling adaptation resources by 2025 and ensuring the delivery of resources to frontline communities, enterprises and economies”, a confirmation of the call made by the V20 Ministers of Finance during the Ninth V20 Ministerial Dialogue that was convened in Washington DC in October 2022. He added that “through the GEF, particularly through the Least Developed Countries Fund (LDCF), the V20 Group aims to mobilize additional resources for climate change adaptation to boost the adaptive capacity in the LDC countries. This is to ensure that we leave no vulnerable community and economy behind”. Read more: COP27: Bangladesh among first recipients of Global Shield financial support According to the V20 Chair, the evolution of the program must include increased mobilization of resources from the GEF’s Special Climate Change Fund (SCCF) to secure finance for climate change adaptation for non-LDC climate vulnerable countries. He, therefore, urged the donors of the GEF to scale up resources for both the LDCF and the SCCF to support the economic transformation of climate vulnerable countries which has been necessitated by the climate crisis amongst other global emergencies. Carlos Manuel Rodriguez, Chief Executive Officer and Chairperson of the Global Environment Facility, added that the GEF-managed LDCF and SCCF have an important role in serving the Paris Agreement, which has established a global goal on adaptation to enhance adaptive capacity, strengthen resilience, and reduce vulnerability to climate change. “We commend the decision of the LDCF/SCCF Council to allocate resources to bolster adaptive capacity, strengthen resilience, and reduce vulnerability to climate change in climate vulnerable countries. By supporting adaptation in V20 countries through micro and community level projects, impacts of climate change will be averted and minimized,” he said. “This is a step in the right direction but compared to the scale of adaptation needed in V20 countries, this funding allocation is modest, and this is where the role of donors becomes critical in further boosting their contributions for the LDCF and SCCF”.  The United Nations Industrial Development Organization (UNIDO), an agency of the GEF, will administer this LDCF and SCCF funded project. Read more: V20, G7 reach agreement on financial protection against climate change loss The initial investment of the V20 Funding Program will support a range of adaptation interventions across themes such as agriculture, water, climate information services, and disaster risk reduction including the repair and reconstruction of community infrastructure impacted by extreme weather events to build back better standards.

Environment, Forests and Climate Change Minister Md Shahab Uddin has pointed out that climate change is one of the biggest challenges to Bangladesh becoming the 25th largest economically prosperous country in the world by 2050. "It is said that Bangladesh's economy is more at risk to climate change than any country," he said at the knowledge sharing workshop of the ICBAAR project at a hotel in Dhaka on Sunday. He said that to sustain the economic growth, the government is emphasising climate change mitigation in its policies. "Therefore, in the National Adaptation Action Plan (NAPA) and the Bangladesh Climate Change Strategy and Action Plan (BCCAP), participation of local communities in climate change mitigation has been considered paramount." He said the Ministry of Environment, Forest and Climate Change has taken initiatives for green budget for all ministries. Also read: 'No time to waste': A clarion call for action against climate change UNDP initiated integrating community-based Adaptation into Afforestation and Reforestation Program (ICBAAR) in 2017 to increase species diversity in the coastal forest, which resulted in enhanced socio-economic benefits to local communities from the forests. It was supported by the Ministry of Environment, Forest and Climate Change and implemented through the Bangladesh Forest Department in collaboration with seven ministries and departments of government, with the financial support from Global Environment Facility (GEF) For the last four years, the project has been providing climate-resilient, innovative and ecosystem-based diversified livelihood support to 8,600 coastal, poor and forest-dependent households to adapt to climate change, said UNDP.  The project makes a conscious effort to empower women and their involvement in advancing resilience in coastal areas, of which over 52 percent are women. Also read: Swedish minister happy with Bangladesh’s use of climate change adaptation support "ICBAAR activities have piqued the interest of the coastal communities, and many are adapting to innovative livelihood options introduced by the project. I hope these activities are rolled out to other coastal areas of Bangladesh for overall strengthening of the vulnerable population," the minister said. Appreciating the project interventions, Deputy Minister Habibun Nahar said, "I believe the Project learnings, best practices and knowledge products can be included in future Coastal Climate Change planning, which will make today's effort more fruitful." "Adopting a green, clean production agenda will be imperative if Bangladesh wants to meet export-led growth ambition in the post-LDC graduation period," said UNDP Resident Representative Sudipto Mukerjee. "This is the forests that protect us from cyclones and climate impacts. Now it is our moral responsibilities to protect them," he added. Also read: Global Youth Climate Summit 2021 urges pressing actions to combat climate change "ICBAAR was successful in building key strategic partnerships, cooperating with relevant institutions, and building linkages with other projects. The project adopted co-management approach and acted as a platform of collaboration for multiple government, non-government organisations and individuals, which represents an excellent recipe for future replication on other projects or to other areas." "We must seize the opportunity to properly utilise the enormous project learnings generated through concerted efforts of various sectors," the UNDP RR said. The workshop was chaired by the ministry’s Secretary Ziaul Hasan while Chief Conservator of Forest Amir Hossain Chowdhury was the special guest. UNDP's Program Specialist Arif M Faisal and ICBAAR Project Manager Dr Muhammed Muzammel Hoque gave keynote presentations.