Speakers at a discussion have criticized developed countries for strategically trapping underdeveloped nations in debt through climate financing.
Styled “Post-COP Analysis”, the dialogue was organized by the Global Climate Media Network in capital Dhaka on Monday.
The experts noted that while climate-vulnerable nations demand grants to address the losses and damages caused by climate change, they are instead being burdened with loans.
Advocate Hafiz Khan, Director of the Center for Climate Justice-Bangladesh, speaking at the event, highlighted that developed nations are focusing on carbon trading instead of curbing.
“The reality is, they are not willing to provide financial aid”, he remarked.
Khan added that Bangladesh struggles to secure funding from international climate funds due to a lack of expertise, though he emphasized the need for continued negotiations.
M. Zakir Hossain, Chief Executive of Change Initiative and a climate expert, pointed to research on 20 underdeveloped countries, revealing that 18 of them are already ensnared in debt under the guise of climate financing.
He warned that by 2030, Bangladesh might face similar consequences, further increasing risks for climate-vulnerable nations.
Professor Adil Mohammed Khan, President of the Bangladesh Institute of Planners, criticized Bangladesh’s lack of concrete measures to reduce carbon emissions and address environmental pollution.
He also noted the absence of proper plans for river erosion victims, urging immediate action.
Sheikh Mohammad Mehedi Hasan, General Secretary of the Bangladesh Institute of Planners, called for the development of position papers by citizens, media, and youth on tackling climate change.
He stressed that without such initiatives, promises made to the United Nations regarding biodiversity protection and climate resilience would remain unfulfilled.
Sharif Jamil, a member of the board of directors at Waterkeeper Alliance, accused developed nations of exploiting carbon trading to trap poorer countries while continuing to increase emissions.
He urged for a stronger focus on addressing local climate issues and connecting them to global platforms.
Habib Rahman, Convener of the Global Climate Media Network, emphasized the importance of collaborative efforts among NGOs, researchers, and youth to effectively advocate for climate financing and solutions.
He underlined the need for a coordinated platform to tackle the challenges.
Youth climate activists, who also participated in the discussion, criticized the lack of field engagement before attending major conferences like COP.
They suggested involving marginalized communities and remote regions in dialogues to ensure a comprehensive representation of climate challenges.
Forum for Energy Reporters Bangladesh (FERB) chairman Md Shamim Jahangir and Communication specialist Tahrim Ariba also attended at the discussion.
However, experts lamented the lack of scientific research to present an accurate picture of climate-induced damages on global platforms, which complicates efforts to secure compensation.
The experts concluded by urging early preparations for the 30th Climate Conference to address these pressing issues and secure meaningful outcomes.
