Adopt green inclusive finance as national framework: Experts

Experts at a programme on Monday called for adopting green inclusive finance as a national framework to link financial inclusion with climate action for Bangladesh's vulnerable populations.

They also called for making the climate change actions more people-centric and basing them on field-level realities rather than theories.

The speakers made the call at a discussion titled "Green inclusive finance: a framework for climate-change response by the poor and low-income vulnerable populations in Bangladesh" and held at the BRAC Centre in the capital's Mohakhali.

The Institute for Inclusive Finance and Development (InM) and the Centre for Inclusive Development Dialogue (CIDD) jointly organised the event.

InM Chairman Dr Qazi Kholiquzzaman Ahmad chaired the event, while its Executive Director Dr Mustafa K Mujeri, who is also the CIDD chairman, presented the keynote.

Dr Mujeri outlined a strategic framework that integrates poverty reduction, financial inclusion, and climate resilience, covering three key pathways - resilience, adaptation, and transition.

The paper stressed that tackling climate change and supporting the poor could not be approached effectively if it was done in a separate way.

Dr Mujeri also said a green inclusive finance system would empower vulnerable communities to adapt to climate shocks while transitioning towards sustainable livelihoods.

Dr Kholiquzzaman said Bangladesh should cautiously accept grants from different green climate funds of the developed countries and international organisations rather than receiving loans.

"Moreover, many parties are not providing funds to the climate change victim countries due to carbon emissions by developed nations as per their pledges," he said. He said climate also had health impacts, which needed a great deal of focus.

Besides, he said the climate change impact was a political agenda rather than an economic and environmental issue from a global perspective.

Dr Kholiquzzaman underscored the need for introducing insurance products like crop and livestock insurance for climate change victim farmers.

Former director general of the NGO Affairs Bureau Rashadul Islam highlighted the need for making climate programmes more scientific and merit-based.

He said stakeholders should prioritise the importance of human beings in all climate programmes.

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