Rizwana stresses fair, transparent climate finance to avoid debt traps
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, she says
Environment, Forest and Climate Change Adviser Syeda Rizwana Hasan has stressed the importance of establishing fair and transparent climate finance systems to protect vulnerable countries from falling into debt traps.
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 adviser made the 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 today (20 October).
The international community must recognize the necessity of grants, not just loans, to support adaptation and mitigation efforts, she added.
Keep updated, follow The Business Standard's Google news channel
Rizwana underscored the importance of stronger global commitments to address the historical responsibility of developed nations in contributing to climate change. She urged industrialised countries to take responsibility and provide financial assistance in a manner that does not worsen the economic hardships of LDCs.
She noted 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.
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, also spoke at the event.
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.
