The existing financial allocation is inadequate to allow societies and vulnerable populations to adapt to the adverse effects and reduce the impacts of climate change, experts observed at an event on Tuesday.
They also suggested that the climate change budget must incorporate climate-change induced migration and loss and damages.
Less than 8 per cent of the budget of the twenty-five key ministries and divisions of Bangladesh has been allocated for climate change which is Tk 251.24 billion and accounts for 57.33 per cent of the total national budget of FY 2021-22.
But within this allocation, Tk 102.86 billion has been allocated under the operating budget and Tk 148.38 billion under the development budget. And compared to last year’s allocation, the budget for FY 2021-22 has decreased from 7.48 per cent to 7.26 per cent, the mentioned.
Climate experts and stakeholders commented on those at a webinar titled ‘Stakeholder Consultation on Bangladesh Climate Budget FY 2021-22’ organised by ActionAid Bangladesh.
On the other hand, the differential impact of climate change on women threatens to undermine the advancement of women’s empowerment in social development and politics. Thus, it is necessary to give attention to the gender dimension of climate change to develop specific and effective climate action plans that address the risks women face.
Dr Mizan R. Khan, Professor, Environmental Science and Management, North South University, said "85 per cent of the allocation for climate finance comes from the local sectors, so the local sectors must be given importance.”
At the same time, climate financing should come under transparency and accountability,” he mentioned.
Ferdousy Begum, Deputy Secretary, Ministry of Women and Children Affairs identified women and children as most vulnerable to any disaster. The government is trying to formulate a woman and child-friendly budget, she shared.
Farah Kabir, Country Director, ActionAid Bangladesh, said, "It is true that we are now going through a three-pronged crisis of COVID, climate and economy. Yet there is still a huge gap in leadership, consensus, planning, implementation, investment and allocation around the world in climate finance.”
The impact of climate change must be borne in mind at the outset of any project, she added, urging that the development work must be women and youth-friendly.
