Syeda Rizwana Hasan, Advisor to the Ministry of Environment, Forest and Climate Change, emphasized the need for fair and transparent climate finance systems to prevent vulnerable countries from falling into debt traps. She stated that climate finance must be rooted in justice, ensuring countries like Bangladesh are not burdened with unfair loans while addressing a crisis they did not cause. The international community must recognize the necessity of grants, not just loans, to support adaptation and mitigation efforts, she added.
Environment Advisor made these remarks during a National Dialogue on “Climate Justice in Climate Finance: Climate Debt Trap Risks for Bangladesh and Other LDCs” held at the CIRDAP Auditorium on Sunday (20 October, 2024).
In her speech, Rizwana Hasan underscored the importance of stronger global commitments to address the historical responsibility of developed nations in contributing to climate change. She urged industrialized countries to take responsibility and provide financial assistance in a manner that does not worsen the economic hardships of LDCs. Bangladesh and other vulnerable nations are grappling with both environmental and economic crises, and climate finance must serve as a tool for empowerment, not exploitation, she noted.
Other speakers at the event included Dr. Munzurul Hannan Khan, Executive Director of Nature Conservation Management (NACOM), Md. Rafiqul Islam, Managing Director of the Bangladesh Climate Change Trust (BCCT), and M Zakir Hossain Khan, Managing Director and Chief Executive of Change Initiative.
The event gathered experts, policymakers, and civil society representatives to discuss challenges and solutions regarding climate finance for developing nations. The dialogue focused on the increasing concerns surrounding the debt risks posed by international climate finance for Bangladesh and other Least Developed Countries (LDCs).
