Bangladesh faces a critical need for $12.5 billion annually, approximately 3% of its GDP, to address the escalating climate crisis. Despite persistent efforts, significant financing gaps in adaptation and mitigation remain, threatening economic growth and disproportionately impacting climate vulnerable populations. To bridge these gaps, strategies such as budget reprioritization, carbon taxation, external financing, and blending diverse funding sources are vital. Article 6 of the Paris Agreement also provides a significant opportunity for Bangladesh to access climate finance through carbon markets, capital markets, and bond markets, enabling sustainable mitigation efforts.

Bangladesh's proactive stance in combating climate change is evident through its strategic and risk informed planning and resource allocation. However, the escalating nature of climate threats necessitates enhanced financial mobilization, both domestically and internationally. Strengthening institutional frameworks, fostering private sector involvement, accessing capital market and securing external funding are imperative to sustain the nation's development trajectory in the face of climate change.

In response to these pressing challenges, a four-day training workshop on "Global Climate Finance Architectures" concluded on January 18, 2025, at the BRAC CDM in Savar, Dhaka. Jointly organized by the Economic Relations Division (ERD), the Ministry of Environment, Forest and Climate Change (MoEFCC), and UNDP, the workshop aimed to strengthen the capacity of public and private stakeholders to effectively access and manage global and national climate finance. The Nature Conservation Management (NACOM) and the Centre for Climate Change and Environmental Research (C3ER) at BRAC University provided essential support, with funding assistance from the Climate Promise-From Pledge to Impact initiative.

The training featured an array of presentations, case studies, panel discussions, hands-on exercises, and interactive sessions, offering participants theoretical and practical insights. Key topics included governance mechanisms, procedures for accessing and monitoring major funding sources such as the Green Climate Fund (GCF), Global Environment Facility (GEF), Adaptation Fund, Climate Investment Fund (CIF), and Bangladesh Climate Change Trust Fund. Innovative instruments such as concessional loans, equity, bonds, carbon markets, and sustainable banking were also covered, alongside strategies for integrating climate resilience into financial operations and leveraging philanthropic and Islamic contributions.

The workshop brought together 54 participants from ministries, private sector entities, banks, financial institutions, insurance companies, universities, research institutes, NGOs, and youth organizations. Esteemed speakers included Dr. Ainun Nishat (C3ER), Dr. Ahsan Uddin Ahmed (GCF), Mr. AKM Sohel (ERD), Dr. Munjurul Hannan Khan (NACOM), Arif M Faisal (UNDP), and representatives from Bangladesh Bank and City Bank. Training was conducted by both national and international experts, providing a holistic understanding of climate finance strategies aligned with Bangladesh’s Nationally Determined Contributions (NDC) and National Adaptation Plan (NAP).

This workshop marks a significant step towards aligning climate finance strategies with Bangladesh’s specific needs for adaptation, mitigation, and addressing loss and damage. By equipping stakeholders with the knowledge and tools to navigate complex climate finance mechanisms, Bangladesh is advancing its commitment to sustainable development and resilience in the face of growing climate risks.