Proposed budget for FY’26
Climate change: CSOs criticise inadequate allocation, demand 3.0 pc of GDP
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Civil Society Organisations (CSOs) at a press conference on Wednesday criticised the climate finance allocation of only 0.67 per cent of GDP, calling it grossly inadequate given Bangladesh’s climate vulnerability.
The observation came at a post-budget discussion titled "Climate Allocation in the National Budget-2025-26 and Civil Society Perspective", organised by EquityBD, BDCSO Process, COAST Foundation and others, held at the Economic Reporters Forum (ERF) Auditorium in the city.
Speakers there demanded that at least 3.0 per cent of GDP be allocated to climate finance, aligned with long-term adaptation plans.
The event was moderated by COAST Foundation’s Executive Director, Rezaul Karim Chowdhury, while MM Hasan presented the keynote from the same organisation.
Key speakers included Sharif Jamil from Waterkeepers Bangladesh, Kawsar Rahman from Bangladesh Climate Journalists Forum, Mostafa Kamal Akand, Coordinator of BDCSO Process, Montaher Arafat, President, Youth Action for Development, among others.
Mr Chowdhury said following the increasing threat of natural disasters, we now need resilient infrastructure like stone embankments and coastal natural barriers.
Sharif Jamil called climate change a present crisis and urged for regional cooperation on water governance and adherence to global conventions like the 1997 UN Watercourses Convention.
Kawsar Rahman criticised the IMF-aligned budget model for ignoring job creation and pushing a regressive VAT.
Ahsanul Karim Babor from Equity BD informed about the laundering of over Tk 28 trillion between 2009 and 2023, calling for the enforcement of the Money Laundering Prevention Act.
M A Hasan, in his keynote, stressed that the climate allocation, only 10.07 per cent of the total national budget and 0.67 per cent of GDP, falls far short of the estimated $19 billion annual requirement.
He called for urgent reconsideration of a minimum 3.0 per cent GDP allocation for effective climate resilience.
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