In order to assist the developing countries in mitigating and adapting to the adverse impacts of climate change, financial resources are being mobilized globally through shared platforms as well as public climate finance commitments by developed countries under the UNFCCC. According to Global Landscape of Climate Finance (2014) published by Climate Policy Initiative, in 2013, annual global climate finance flows totaled approximately USD 331 billion. According to the report, climate finance flows were split almost equally between developed (OECD) and developing (non- OECD) countries, USD 164 billion and USD 165 billion respectively. Being one of the most climate vulnerable countries in the world, Bangladesh is actively investing in the field of climate change. The Bangladesh Climate Change Strategy and Action Plan (BCCSAP) outline a framework for climate change investments in the country. Though Bangladesh receives fund in the sector through various internal and external channels, there are still scopes for introducing an established and widely-accepted monitoring mechanism that can ensure transparency and accountability. To understand the extent and type of support that is being made available to precede action on climate-resilient development and to comprehend how the support is corresponding to the needs, and whether the financial resources are being spent productively, it is important to monitor the finance mechanism holistically and in details. Climate Finance Transparency Mechanism (CFTM) has been initiated in January 2017 and is being implemented by a consortium (consortium-1) among Centre for Climate Change and Environmental Research (C3ER), BRAC University, International Centre for Climate Change and Development (ICCCAD) and the Bangladesh Centre for Advanced Studies (BCAS) in association with the British Council. Consortium-2 of this project constitutes Campaign for Sustainable Rural Livelihoods (CSRL) and Coastal Association for Social Transformation Trust (COAST Trust) as the local level partner. The CFTM project is an innovative project that would enable the funding for climate change in Bangladesh to be more effective in helping the most vulnerable communities become better adapted to climate change impacts and help improve the overall levels of transparency in governance in general in Bangladesh. The goal of this project is to increase the efficacy of climate change funds both from government and donors in tackling the impacts of climate change in Bangladesh. Promoting Knowledge for Accountable Systems (PROKAS) Program of British Council, funded by UKAID is supporting the project financially now.
A session to share experience with the policymakers was organized by C3ER, BRAC University on 25 July 2017 at BRAC Inn, Mohakhali, Dhaka. The meeting was chaired by Dr. Ainun Nishat, Professor Emeritus and Adviser of the Centre for Climate Change and Environmental Research (C3ER), BRAC University. Dr. Saleemul Huq, Director of International Centre for Climate Change and Development (ICCCAD); joined the meeting along with twenty five (25) Deputy Secretaries from different ministries, a Wing Commander from Air Force and a Major from Bangladesh Army.
The meeting started with a welcome speech by Dr. Ainun Nishat. He described the significance of improving compliance, transparency, inclusiveness and partnership in decision making and implementation process in climate change sector. He also mentioned about the measurable, reportable and verifiable (MRV) actions as part of the climate change mitigation commitments.
Dr. Huq, started his speech describing the vulnerability of Bangladesh due to climate change.
After that the interactive session started. The government officials raised some important questions and experts tried to solve those.