Experts at a workshop stressed the need for collective action, investment, and partnerships to tackle the growing climate challenges.
Standard Chartered Bangladesh hosted the seminar titled ‘Catalysing Climate Adaptation Action and Mobilising Investment’ at a hotel in the capital recently, says a statement.
The discussion focused on the National Adaptation Plan (NAP), financing strategies, and the pivotal role of multi-stakeholder partnerships in driving efforts to enhance climate resilience in the country.
Syeda Rizwana Hasan, adviser to the Ministry of Environment, Forest and Climate Change, said, “The model of development that we are pursuing needs serious reconsideration. Instead of putting development and investment at the center, we put sustainability, nature, natural resources, communities at the centre and redefine development and investment.”
Naser Ezaz Bijoy, Chief Executive Officer, Standard Chartered Bangladesh, said, “Bangladesh’s vulnerability to climate change is undeniable. However, Standard Chartered’s Adaptation Economy study shows that every dollar invested today in climate resilience and adaptation will generate 10 times economic benefit by preventing economic damage and loss of GDP growth. With the right mix of policy reform, financial innovation, and multi-sector collaboration, we can mobilise the necessary investments to ensure climate resilience.”
John Murton, Senior Sustainability Adviser at Standard Chartered, said, “Global experience shows that investing in climate adaptation is good business. To overcome hurdles and achieve large-scale impact, we must accelerate policy alignment, unlock private capital, and strengthen partnerships among governments, financial institutions, multilateral partners, and businesses.”
Sarah Cooke, British High Commissioner; Gwyn Lewis, Resident Coordinator, the United Nations; Hoe Yun Jeong, Country Director, Asian Development Bank (ADB), Bangladesh; and Arinjoy Dhar, Senior Director, Microfinance, BRAC; also spoke at the seminar.
The participants highlighted that the country requires USD 230 billion investment till 2050 for climate resilience and adaptation, 40% of which is expected to come from the private sector.
Effective climate actions and investment requires collaboration across sectors and stakeholders, which can be facilitated by partnership platforms, they said.
The speakers cited Bangladesh Climate Development Partnership (BCDP), launched earlier in the week, as an example of a country-led climate action platform, which aims to foster strong partnership within the government, development partners, NGOs, civil society, and the private sector.
The event featured two case study presentations. Dr. Nandan Mukherjee showcased pioneering research on climate-resilient housing solutions, highlighting how academia, private sector and government partnerships can develop scalable adaptation technologies tailored to the country’s unique geographical challenges.
Dr F H Ansary, Managing Director, ACI Agrobusiness, highlighted the role of climate adaptation in enhancing the resilience of the agriculture sector and the need for investments in climate-smart farming, sustainable irrigation, and resilient supply chains.