Rights groups call for allocating 3.2pc of GDP as climate finance

Civil Society (CSOs) and experts have demanded at least 3.2 per cent of GDP resources for climate financing through the national budgetary process every year.

They also demand that the government take steps by reforming the tax and financial system to stop capital flight for necessary resources mobilisation domestically for climate financing.

They made the demand at a press conference, jointly organised by COAST Foundation, CPRD (Center for Participatory Research and Development) and CSRL (Centre for Sustainable Rural Livelihood], EquityBD (Equity and Justice Working Group Bangladesh), AOSED (An Organization for Socio-Economic Development)-Khulna, CANSA-BD (Climate Action Network on South Asia-Bangladesh).

M Rezaul Karim Chowdhury of COAST has moderated the event.

Aminul Hoque said that, government has been allocating a portion of budgetary money for Disaster Management purposes since its independence.

This money just shifted in the name of climate finance to show the donors which does not commensurate the present climate context and its requirements in achieving climate resilient Bangladesh.

He also showed that government strategic climate plans like Delta plan 2100, Mujib Climate Prosperity Plan 2030 and NDC [National Determined Contribution etc.] require around 3.2 per cent of GDP investment every year where allocation is far less than the target.

In this context, he put a few demands regarding climate financing issues.

Md Ziaul Hoque Mkuta from CSRL said that the proposed 2023-24 budget is the output of these inconsistencies with no target on real climate financing.

Md Shamsuddoha of CPRD opined that government ministries lack capacity utilizing money and they don’t have a sectoral plan which is one of the causes for separate climate financing.

Shamim Arefinn of AOSED said that the government has ignored coastal protection issues. That’s why climate induced displacement and migration are happening and increasing socio-economic imbalance.

Kawser Rahaman BCJF opined the proposed budget as IMF compliance which ignored the pro-poor demands with imposing regressive taxing like VAT.

He demanded the budget revision and introduced a resource tax for revenue mobilisation.