Bangladesh:

Experts gathered at a multi-stakeholder dialogue in Dhaka, Bangladesh, on November 20 to discuss the urgent need for increased climate adaptation finance flows for vulnerable developing countries like Bangladesh. The dialogue, organized ahead of the upcoming UN Climate Change COP28 conference, highlighted the importance of fulfilling the commitment to mobilize $100 billion annually through 2025 while addressing the shortfall of the past three years (2020-2022).

Concern Worldwide, Action against Hunger, the International Centre for Climate Change Development (ICCCAD), and YouthNet for Climate Justice jointly organized the dialogue.

Dr. Golam Rabbani moderated the panel discussion with Prof. Mizan R Khan of ICCCAD, Prof. Samiya Ahmed Selim of the University of Liberal Arts Bangladesh (ULAB), Change Initiative chief executive Zakir Hossain Khan, YouthNet for Climate Justice chief coordinator Sohanur Rahman and Friendship’s Partnership Development’s assistant director Enamul Haque.

Participants emphasized the need for predictable and sufficient grant-based public financing for climate adaptation, particularly in Bangladesh, where adaptation finance needs are 10-18 times larger than current international public finance flows. They urged wealthy countries and international partners to prioritize and increase climate adaptation finance flows with fairness, ensuring that the most affected communities receive the support they need.

The dialogue also highlighted the need for innovative financial mechanisms beyond traditional funding to address the adaptation financing gap. Participants called for a multifaceted approach that targets diverse sources of funding, encompassing both public and private sectors at both international and domestic levels. They also emphasized the crucial role of youth in leading adaptation advocacy efforts and called for greater involvement of the younger generation in shaping and implementing effective climate adaptation strategies.

Key takeaways from the dialogue:

• The urgent need for increased climate adaptation finance flows for vulnerable developing countries.
• The importance of fulfilling the commitment to mobilize $100 billion annually through 2025.
• The need for predictable and sufficient grant-based public financing for climate adaptation.
• The need for innovative financial mechanisms beyond traditional funding.
• The crucial role of youth in leading adaptation advocacy efforts.

The dialogue concluded with a call for sustained collaboration among all stakeholders to effectively address the urgent climate challenges faced by vulnerable communities, particularly in Bangladesh. Ongoing partnerships and cooperative efforts are imperative to ensure that vulnerable communities have the resources they need to adapt to a changing climate.