Bangladesh aims to scale up the global climate finance goal from $300 billion to $1.3 trillion by 2035, with at least half of that amount earmarked for adaptation, and emphasizes ensuring direct access for local governments and community-based groups to international climate funds, prioritizing equity and grassroots resilience at COP30.
According to a new report by CPD in collaboration with the World Bank, economic losses from climate-induced natural disasters surged nearly tenfold, from roughly Tk 18,425 crore between 2009 and 2014 to Tk 1,79,200 crore during 2015-2020. The combined losses and damages from all disasters between 2009 and 2020 stood at around Tk 2,00,000 crore, citing estimates by the Bangladesh Bureau of Statistics.
Bangladesh's climate policy now prioritizes grant-based funding, faster disbursement, and the inclusion of vulnerable voices in decision-making, said Md Shamsuddoha, chief executive of the Center for Participatory Research and Development (CPRD).
A 15-member Bangladesh delegation, led by Syeda Rizwana Hasan, Adviser to the Ministry of Environment, Forest and Climate Change, will attend the summit to raise Bangladesh's voice. "This time Bangladesh is focusing on forming alliances with South Asian countries to tap the global fund," she said.
Highlighting regional challenges, she noted that deep political divisions and narrow self-interest are weakening national and regional priorities, with many countries failing to seize opportunities for shared progress. Citing recent political transitions in Sri Lanka and Nepal, she emphasized that such disruptions should be used to reset governance, rethink economic pathways, and create space for youth leadership.
Eminent economist Dr. Rehman Sobhan pointed out that around 4-5% of Bangladesh's development budget is allocated to climate-related programs. He stressed the importance of distinguishing between domestic and external financing to identify areas requiring foreign support versus domestic management, and emphasized that grant-based climate finance should be prioritized since most climate projects are not revenue-generating.
Prof Sobhan further noted that Bangladesh faces two intertwined challenges: the immediate impacts of climate events such as floods and cyclones, and the long-term costs of climate change, including adaptation and mitigation measures.
Under the climate loss and damage scenario, the study found Bangladesh's solvency indicators within safe limits but warned that liquidity ratios-especially external debt service to revenue-already breach sustainability thresholds, indicating a high short-term risk. The study showed that converting climate loans into grants could substantially reduce the debt burden, while the EU's Carbon Border Adjustment Mechanism (CBAM) could negatively impact export revenues, increasing debt servicing pressure. Additionally, variable international interest rates pose growing risks, as even a 0.5% increase could push Bangladesh's debt service ratios beyond sustainable levels.
At COP30, civil society groups will demand countries adopt a new "Belém Action Mechanism" to create actionable plans boosting finance for just transition-aligned projects, shifting justice from the margins to the heart of the climate agenda. Currently, less than 3% of international aid to reduce carbon emissions supports a just transition for workers and communities away from polluting industries.
Brazil opens three weeks of events linked to COP30, hoping to showcase global commitment to tackling climate change despite economic upheaval and cancelled U.S. commitments. COP30 is expected to have the lowest world leader attendance since 2019, with fewer than 60 confirmed leaders, compared to over 80 at last year's COP29 in Baku and more than 100 at previous summits in Dubai, Sharm el-Sheikh, Egypt, and Glasgow. Brazil expects over 45,000 attendees for the main summit from November 10-21.
US President Donald Trump, who withdrew the U.S. from the Paris Climate Accord, will not send senior officials, while China will be represented by Deputy Prime Minister Ding Xuexiang. Key leaders attending include UK PM Keir Starmer, German Chancellor Friedrich Merz, European Commission President Ursula von der Leyen, and French President Emmanuel Macron, who will confront both the intensifying global climate crisis and complex political challenges.
