A group of Bangladeshi experts has presented 5 points of recommendations on climate finance to the world.
A group of experts from Bangladesh, one of the most climate-affected countries in the world, has presented 5-point recommendations to the world on climate finance.
This month, policymakers worldwide met at an international conference in the French capital Paris to hammer out a new global economic deal. Bangladeshi experts presented 5-point recommendations there.
The Bangladeshi expert team included Saber Hossain Chowdhury, Special Envoy of Bangladesh’s Prime Minister for Environment and Climate, Director of the International Center for Climate Change and Development, Professor Salimul Haque, and Head of Climate Bridge Fund Secretariat. Md. Golam Rabbani
The conference was held at the Brongniart Palace in Paris and the headquarters of UNESCO and the Organization for Economic Cooperation and Development (OECD).
Heads of State and Government of the participating countries, various national and international non-governmental development and economic organizations, and representatives of the private sector and civil society were present.
This new deal on climate finance will work for the people who need it most. Five recommendations highlighted by Bangladeshi experts are – Rebuilding trust. The world is now tired of empty promises.
Now actions must match words. Paris has held symbolic importance in multilateral cooperation since the success of the 2015 Paris Agreement, although commitments from world leaders are now waning. This conference, too, risks losing its value and credibility if the declared pledges don’t act upon.
National leaders must prioritize their country’s long-term interests rather than short-term election cycles.
Instead of narrow and short-term interests, authentic leadership should take the tough decisions that will secure the long-term interests of the country and the planet. This ‘short-termism’ creates barriers to meaningful systemic reforms for the future of humankind.
Applying the ‘all-in-one’ approach: National budgets should reflect current and future crises. It is no longer confined to any ministry, sector, or industry. For example, Bangladesh has become a fertile ground for climate-related activities.
It has political ownership, sound policies, promising educational and research opportunities, vibrant civil society, innovative industries, and dynamic youth movements. Essentially, this leadership will encourage and create strategic unity and concerted action opportunities.
Focusing on low-income countries to find appropriate approaches already working to provide resources to the people most affected by the climate crisis. No need to ‘reinvent the wheel’ here. Climate change is an old problem for a country like Bangladesh.
Know the solution. Bangladesh’s Climate Bridge Fund can also look at as an example. In this fund, money received from bilateral partners is channeled to small organizations.
This money is self-sustaining. Income from this is through investment in government treasury bonds. It distributes money to people working on the front lines of climate adaptation and mitigation. Their work is enabling the expansion of locally-led solutions.
Keeping women and children in the driver’s seat, women bear the disproportionate burden of poverty and crisis worldwide and cope with scarcity. Therefore, they are the ones who lead each family’s activities, inventing ways to solve problems and building capacity to deal with crises.
Moreover, no one sees the crisis more clearly than today’s youth since the youth are in the greatest crisis. A new global financing agreement will unlock the mobility and potential of women and youth everywhere.
