Bangladesh’s Stance on Climate Finance: Bangladesh, acutely vulnerable to climate change impacts, played a proactive role at COP29.SyedaRizwana Hasan, Adviser to the Ministry of Environment, Forest, and Climate Change, highlighted the nation’s pressing need for substantial climate finance. She emphasized that Bangladesh requires $8.5 billion annually for adaptation but faces a $5.5 billion shortfall. Rizwana advocated for grant-based financing over loans to avoid exacerbating the country’s financial burdens. She also called for the operationalization of the Loss and Damage Fund and a clear definition of climate finance to enhance trust and efficiency.
Operationalization of the Loss and Damage Fund: A significant development at COP29 was the operationalization of the Loss and Damage Fund, designed to assist nations disproportionately affected by climate change.While this was a step forward, concerns remained about the fund’s sufficiency and the nature of its financial assistance.Bangladesh’s interim leader, Muhammad Yunus, criticized the ongoing negotiations over climate finance as “humiliating,” emphasizing the need for more substantial and just financial support from developed nations.
Advocating for Fair Climate Finance at COP30:As the world looks ahead to COP30 in November 2025 in Belém, Brazil, the focus is shifting from rhetoric to results. With the Amazon rainforest under mounting environmental pressure, Brazil’s presidency is expected to spotlight the delicate balance between ecological preservation and economic development. Against this backdrop, Bangladesh is preparing to advance its call for climate justice, emphasizing the urgency of equitable finance for adaptation and mitigation. The country is likely to push for a revision of the New Collective Quantified Goal (NCQG), arguing that the current commitment still falls short of addressing the actual scale of needs in vulnerable nations. For Bangladesh, whose economy and population are increasingly exposed to extreme climate events, a just transition requires more than promises, it demands bold financial ambition aligned with the scale of the crisis.
Strengthening Adaptation and Technology Access:Bangladesh will also continue to reject loan-heavy climate packages, asserting that climate finance should come in the form of grants, not loans, to avoid exacerbating its debt burden. Instead, it will argue for a stronger pivot toward grant-based financing mechanisms that empower frontline states to act decisively. The full and effective operationalization of the Loss and Damage Fund remains a central concern, with Bangladesh expected to push for predictable and easily accessible disbursements. In parallel, the nation will underscore the need for access to advanced technologies and capacity-building support to ensure that its adaptation strategies are not only reactive but transformative and forward-looking. Bangladesh’s nationally determined contribution, its pledge to cut greenhouse gas emissions by 22% by 2030, remains contingent on international cooperation and finance, reminding the global community that ambition must be met with meaningful support.
Bridging the Climate Finance Divide: The transition from COP29 to COP30 highlights the continuing challenge of mobilizing sufficient climate finance. While the New Collective Quantified Goal (NCQG) has made strides, the significant gap between pledged funds and the actual financial needs of developing countries remains a pressing issue. According to the UN, developing nations will need over $1.3 trillion annually to address climate impacts, yet current financing levels fall far short. To close this gap, innovative financing mechanisms, such as carbon markets and climate bonds, must be further developed. Additionally, stronger engagement from the private sector, combined with enhanced international cooperation, is crucial to ensuring that financial pledges are not just numbers but funds that reach those who need them most.
Bangladesh’s Strategic Approach to Climate Finance: Bangladesh is actively pursuing various strategies to meet its climate finance needs and strengthen its resilience. One key approach is advocating for debt relief frameworks, such as the G20’s “Common Framework,” which can free up resources for climate action without adding further debt burdens. Additionally, the country is focused on international capacity-building to improve its ability to access and manage global climate funds. A third crucial strategy involves fostering public-private partnerships, allowing the government to collaborate with the private sector to mobilize additional resources for climate initiatives. These measures are essential for Bangladesh to continue making progress in mitigating and adapting to climate change.
Driving Climate Finance Forward: As COP30 in Belém nears, Bangladesh’s climate finance advocacy will focus on securing substantial, targeted funding for the most vulnerable nations. Despite COP29’s progress, particularly with the Loss and Damage Fund, a significant financial gap remains. Bangladesh, facing projected annual losses of 2.2% of GDP due to climate impacts, will leverage its leadership to push for innovative financial solutions. The nation advocates for a recalibrated climate finance framework that moves beyond traditional aid models, emphasizing sustainable, predictable funding. COP30 presents a pivotal opportunity to expand existing commitments and ensure that climate finance flows are timely, sufficient, and aligned with global climate goals, addressing the scale of adaptation and mitigation needs effectively.
Bangladesh’s Strategic Vision: Bangladesh’s strategic vision for climate resilience focuses on inclusive climate finance that prioritizes long-term adaptation and sustainable development. Under the leadership of interim governments, including Dr. Muhammad Yunus, the country has advocated for a shift in climate finance mechanisms to support vulnerable communities, enabling them to thrive. Dr. Yunus has stressed the importance of empowering local communities through innovative climate finance models. Key priorities include scaling up climate-smart infrastructure, like flood-resistant agriculture, and promoting green technologies to foster economic stability and environmental sustainability. As Bangladesh strives for a 22% reduction in GHG emissions by 2030, the interim government has called for flexible, responsive funding mechanisms to address emerging climate challenges. Emphasizing a balanced approach, the country continues to push for a climate finance model that integrates adaptation, innovation, and capacity-building to empower Bangladesh and build resilience against climate change.
The writer is a Specialist (Technical) & Research Adviser at Krishi Gobeshona Foundation