Unlocking Climate Survival: 'Addressing the Barriers to Effective Finance for Vulnerable Nations'

Abstract

This research investigates the barriers to effective climate finance in Bangladesh, a Least Developed Country (LDC) highly vulnerable to climate threats such as sea-level rise, cyclones, salinity intrusion, and flooding. Despite receiving a significant share of international climate funds for LDCs, Bangladesh faces persistent challenges including complex access procedures, reliance on loan-based financing, institutional limitations, and centralized governance. The study examines Bangladesh's legal and institutional frameworks, including the Bangladesh Climate Change Strategy and Action Plan (BCCSAP) and the Climate Change Trust Act 2010, alongside constitutional and judicial environmental commitments. Findings reveal systemic issues such as limited local participation, donor-driven management, and concerns over debt sustainability. Key recommendations include shifting towards grant-based finance, expanding legal standing for environmental litigation, decentralizing fund access to local governments, and enacting a dedicated Climate Change Act. The study underscores the imperative for Bangladesh to embed climate justice within its legal and financial systems and to advocate strongly in international climate forums. This research contributes valuable insights to the global discourse on climate justice and resilience for the most vulnerable nations.