Rizwana voices concern over slow, inadequate flow of climate finance
Environment, Forest and Climate Change Adviser Syeda Rizwana Hasan addressed the workshop as the chief guest today at The Westin in Dhaka. Photo: PID
DHAKA, Jan 30, 2025 (BSS) – Environment, Forest and Climate Change Adviser Syeda Rizwana Hasan today expressed concern over the slow and inadequate flow of climate finance, saying even the developed nations, which are responsible to global warming, are giving loans to climate vulnerable countries instead of grants.
“At COP29, we saw financial commitments, but if funds arrive too late or come in the form of loans, which may worsen our financial burden instead of offering solutions,” she told a workshop.
Rizwana was addressing as the chief guest at a workshop on ‘Catalyzing Climate Adaptation Actions at Scale and Mobilising Investments’ at The Westin, Dhaka.
The workshop, arranged by Standard Chartered Bank, brought together key stakeholders, including policymakers, financial institutions, and development partners, to discuss the urgent need for climate adaptation investments.
In her speech, Rizwana underscored the government’s unwavering commitment to climate action, irrespective of international funding availability.
“As a nation, we must take the responsibility of protecting our people—whether foreign funds and investments come or not. This is why Bangladesh created the Climate Change Trust Fund, allocating a portion of our national budget to tackle climate challenges,” she said.
While emphasising the importance of adaptation, the environment adviser acknowledged its limitations.
Citing IPCC projections, she warned that if climate change is not addressed, one-third of Bangladesh could go under seawater.
“Adaptation is essential, but it does not give us a license to continue with flawed economic models that contribute to climate change,” she said.
About climate finance, she noted that Bangladesh’s adaptation needs have been scientifically assessed, strengthening its case for international funding.
Rizwana commended the workshop’s unique approach, bringing together lenders and bilateral partners to discuss effective climate financing.
She said funding and technology are important, true solutions must be community-driven.
“Many climate-affected people are unaware of the discussions taking place in rooms like this. Connecting investors with ground realities is crucial to ensure meaningful and sustainable interventions,” the adviser noted.
She called for a paradigm shift in development priorities, stressing that success should not be measured solely by economic growth but by sustainability and resilience.
“From Dhaka to Los Angeles, the world must learn that humans cannot dominate nature—we must live in harmony with it,” she said.
Rizwana stressed the need for improving public transport, promoting resource conservation and integrating climate considerations into all development investments.
Highlighting local adaptation challenges, she cited the ongoing water logging crisis in Khulna and Jashore—an unintended consequence of past engineering projects.
She underscored the importance of learning from such experiences and incorporating environmental impact assessments into future planning.
“Despite facing severe hardships, Bangladesh’s farmers have never gone on strike. They continue to feed the nation. It is our responsibility to support them by connecting local solutions with expert knowledge and new technologies,” she remarked.
She urged all stakeholders—government agencies, the private sector, and development partners—to take decisive action.
“We do not need more reports; we need real action on the ground. Time is running out, and the people of Bangladesh need your support,” Rizwana said.
Sarah Cooke, British High Commissioner; Gwyn Lewis, Resident Coordinator, the United Nations; Hoe Yun Jeong, Country Director, Asian Development Bank, Bangladesh; Dr FH Ansary, President, ACI Agrobusinesses; Dr Nandan Mukherjee, Climate Change and Adaptation Lead, UNESCO Centre for Water Law, Policy and Science, University of Dundee, The United Kingdom; Dr John Murton, Senior Sustainability Adviser, Standard Chartered Bank; Enamul Huque, Head of Corporate Client Coverage, Corporate & Investment Banking, Standard Chartered Bank; and Arinjoy Dhar, Senior Director, Microfinance, BRAC; also spoke.
The workshop concluded with a call for enhanced collaboration to scale up climate adaptation efforts, ensuring that investments are both effective and equitable.