CSOs Demand 3% of GDP for Climate Action: Addressing Insufficient Funding Amid Climate Change Challenges

Civil Society Organizations (CSOs) recently raised concerns about how little Bangladesh is investing in climate finance. During a discussion titled “Climate Allocation in the National Budget-2025-26 and Civil Society Perspective,” they pointed out that only 0.67% of the country’s GDP is dedicated to this urgent need, which they believe is simply not enough given Bangladesh’s high vulnerability to climate change.

The event took place at the Economic Reporters Forum. Led by Rezaul Karim Chowdhury from the COAST Foundation, the discussion featured input from various experts, including Sharif Jamil of Waterkeepers Bangladesh and Kawsar Rahman from the Bangladesh Climate Journalists Forum. They all stressed the importance of increasing climate finance to at least 3% of GDP to better prepare for future climate challenges.

Chowdhury highlighted the pressing need for resilient infrastructure, such as stone embankments and natural coastal barriers. Jamil emphasized that climate change is a crisis we’re currently facing and called for regional cooperation on water management, urging nations to adhere to international agreements like the 1997 UN Watercourses Convention.

Rahman critiqued the current budget model, which he argues sidesteps essential job creation while imposing a burdensome VAT on the public. He pointed out that this limited focus could further hinder Bangladesh’s economic climate readiness.

According to Ahsanul Karim Babor from EquityBD, the government needs to take stronger action on money laundering, as research has shown over Tk 28 trillion was laundered between 2009 and 2023. He urged stricter enforcement of the Money Laundering Prevention Act to curb this damaging activity.

In his keynote, M.A. Hasan emphasized that the current climate allocation, which stands at a mere 10.07% of the total national budget, falls far short of the estimated $19 billion needed annually to address climate-related issues effectively. He passionately called for an urgent increase to at least 3% of GDP.

Recent studies support the urgency of these demands. A 2022 report by the Global Climate Fund indicated that developing countries, including Bangladesh, require significant investments to manage climate risks. Without action, the impacts of climate change could worsen, threatening lives, livelihoods, and ecosystems.

As discussions around climate finance grow, it’s clear that proactive measures are essential. Experts widely agree that investing in climate resilience not only protects the environment but also offers economic benefits, such as job creation in green sectors.

The need for change is stark. In a world where climate impacts are increasingly felt, Bangladesh must prioritize climate finance to safeguard its future.



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