STAFF CORRESPONDENT

The government should allocate 3.2 percent of the GDP for climate adaptation in the proposed national budget, since this will prepare the country to effectively combat the risks posed by climate change, said speakers at a programme yesterday.

Under the recently proposed national budget, an allocation of Tk 37,051 crore has been made for climate-related initiatives. It represents 4.86 percent of the total budget and 0.74 percent of GDP.

Civil Society (CSOs) and experts have voiced concerns that this budget allocation falls short of adequately addressing climate change challenges.

Climate change causes an economic loss of 2-3 percent of GDP each year. Failure to allocate adequate allocation in this sector could hinder the country’s sustainable development.

COAST Foundation, Center for Participatory Research & Development (CPRD), Centre for Sustainable Rural Livelihood(CSRL), EquityBD, An Organisation for Socio-Economic Development (AOSED)-Khulna, Climate Action Network on South Asia-Bangladesh(CANSA-BD)and LEDARS-Satkhira jointly came up with this demand in a discussion held at the capital’s Jatiya Press Club.

Addressing the event, Syed Aminul Hoque, director of COAST Foundation, stressed that successful implementation of government plans, such as the Delta Plan 2100, Mujib Climate Prosperity Plan 2030, and National Determined Plan, require an annual allocation of around 3.2 percent of the GDP.