Unlocking Climate Solutions: Experts Urge Boost in Wetlands Financing Ahead of COP30

With the 30th UN Climate Summit (COP30) approaching, experts gathered in Dhaka emphasized a pressing need for increased climate finance to restore wetlands. This summit will feature nearly 200 countries discussing climate policies, emissions targets, and financing solutions.

During the dialogue titled “Financing Nature: Wetlands as Climate Solutions,” organized by YouthNet Global, participants underscored the significance of community-driven adaptation strategies. Youth leaders from the Korail’s Nogor Abad Cooperative stressed that local involvement is crucial in tackling climate issues.

AKM Sohel, a key figure from the Ministry of Finance, highlighted that integrating nature into Bangladesh’s climate strategy is vital. He urged the exploration of various funding sources, such as the Green Climate Fund and green bonds, to support wetland restoration.

Dr. Suborna Barua from the University of Dhaka pointed out the economic benefits of wetlands. “If we view wetland restoration as a financial investment, we can attract more public and private funds,” she stated.

Sohanur Rahman, executive coordinator of YouthNet Global, remarked that climate solutions need to come from the people. He sees COP30 as a chance for Bangladesh to demonstrate that investing in wetlands secures a better future for everyone.

One main highlight was the panel discussion on unlocking climate finance for wetlands. Moderated by Farah Anzum, the session delved into urgent financial reforms. Experts noted a staggering $384 billion is required globally for nature-based solutions, but Bangladesh has yet to assess its biodiversity financing need.

The panel suggested various innovative approaches, such as green bonds and debt-for-nature swaps, to enhance funding for wetlands. Dr. Mohammad Emran Hasan from Oxfam Bangladesh emphasized prioritizing vulnerable communities in funding strategies.

Moreover, Tashmeem Muntazir Chowdhury from BRAC Bank stated that achieving effective nature finance depends on supportive policies and robust governance within the banking sector.

Experts stress that financing strategies should extend beyond merely adapting to climate changes. Dr. Haseeb M. Irfanullah noted the importance of integrating justice into financing approaches, rather than just reacting to damage.

Chowdhury Liakat Ali emphasized ongoing initiatives in sustainable finance, encouraging private banks to actively invest in nature-based solutions. Architect Dr. Tanzil Shafique highlighted that wetlands should be part of urban planning, enhancing connections between people and nature.

The discussions yielded three main outcomes: the launch of a COP30 Policy Brief focusing on Nature Finance, a proposal for a Dhaka Wetland Restoration Trust Fund, and a commitment to strengthening coalitions among communities, youth, and financial institutions.

As we face the realities of climate change, understanding and investing in our natural resources—like wetlands—becomes not just an environmental issue, but a crucial aspect of economic and social well-being.

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