BD blazes trail in climate adaptation

ISMAIL HOSSAIN
Bangladesh is setting a shining example in climate adaptation globally by investing $1.2 billion of the taxpayer's money to combat climate-change impacts.
But, by the same token, developed countries are falling short of their promises to support such efforts.
Prof Dr Patrick Verkooijen, CEO of the Global Centre on Adaptation (GCA), made the observations while talking to The Financial Express in Dhaka recently.
The expert accentuated the urgent need for increased financial aid from developed nations.
"In 2021, the world promised to double adaptation finance for developing countries during the Climate Summit in Glasgow. But how much is flowing today from the Global North to the Global South - $20 billion to $0 billion a year?" he remarked.
Despite making a pledge to increase aid to $40 billion by 2025 at the COP27 Summit, developed countries have not met their commitments.
Dr Verkooijen attributed this shortfall to geopolitical tensions in Ukraine, ongoing inflation and a global food security crisis.
He called on leaders from the Global South to intensify their demands for the promised aid.
"Prime Minister Sheikh Hasina is already playing a very important role by raising her voice," added Dr Verkooijen.
The GCA has partnered WaterAid Bangladesh and Dushtha Shasthya Kendra (DSK) to support 125 low-income communities in Chattogram through the World Bank's Chattogram Water Supply Improvement Project (CWSIP).
This initiative aims to enhance water supply services while integrating climate-resilience strategies.

Dr Verkooijen laid emphasis on the importance of incorporating climate considerations into all development projects.
"In all the projects being implemented today, tomorrow or the day after…, a climate lens needs to be approved," he said.
The GCA chief executive stressed that the wise, prudent spending of existing funds was as crucial as increasing financial flows.
Highlighting the economic benefits of investing in climate adaptation, he stated, "Every dollar, euro or pound invested in climate adaptation has a much higher economic return."
Dr Verkooijen also noted the role of the International Monetary Fund's 'Resilient Sustainability Facility' in providing significant climate-change funding.
However, he pointed out that the IMF lacked a dedicated climate department.
Bangladesh has been a pioneer in locally-led adaptation projects, which Dr Verkooijen praised as models that could be replicated globally.
He cited successful initiatives in Mongla and Chattogram, which were now being implemented in countries like Liberia and Kenya.
Bangladesh's proactive approach to climate adaptation, including the Mujib Climate Prosperity Plan and the National Adaptation Plan, has positioned it as a leader in policy reforms.
Dr Verkooijen highlighted that while Bangladesh was investing significantly in adaptation efforts, the estimated requirement was much higher at $8.5 billion.
"Bangladesh is reforming their policies faster due to necessity than the rest of the world because the country is already grappling with the adverse effects of climate change," he cited.
Dr Verkooijen drew a conclusion calling for sustained and increased financial support from developed nations to meet global climate-adaptation goals.
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