Transparency International Bangladesh (TIB) has called for setting realistic climate finance targets and resisting the influence of the fossil fuel lobby at the upcoming UN COP-29 climate conference.
In a policy brief shared with the Bangladesh delegation, TIB emphasized the need for transparent, fair climate finance to support the Paris Agreement’s implementation. The policy brief contains nine key recommendations designed to guide the Bangladesh delegation in advancing climate action and ensuring equitable finance commitments for climate adaptation, said a press release.
The conference, set to take place in Baku, Azerbaijan, will address governance gaps in climate finance, insufficient funding for climate adaptation, and the unmet commitments by developed countries. TIB pointed out that many climate finance pledges remain unfulfilled, and that adaptation efforts often lack prioritization, leaving affected countries vulnerable. It also raised concerns about delays in project implementation, limited grant-based funding, and inadequate support for Nationally Determined Contributions (NDCs), as well as biodiversity and natural resource protection.
Dr. Iftekharuzzaman, Executive Director of TIB, voiced concerns about the conflicts of interest posed by the fossil fuel lobby, noting that both the conference president and host country have facilitated meetings with fossil fuel investors. “The influence of the fossil fuel lobby is impacting decision-making and pressuring changes in the UN Framework Convention on Climate Change (UNFCCC) reporting. Furthermore, climate finance from developed countries is often provided as conditional loans, contradicting the Paris Agreement’s intent of supporting green energy transition,” he stated.
Dr. Zaman highlighted that approximately 70% of disbursed climate finance up to 2024 has been in the form of loans, burdening developing countries with debt rather than providing accessible climate finance. He added that the pledged $100 billion per year from 2024 is far below the actual needs. “At COP-29, we urge the establishment of realistic climate finance targets, resistance to fossil fuel lobbying, and actions to address conflicts of interest,” he said.
TIB’s recommendations urge Bangladesh to collaborate with other developing and small island nations to ensure timely climate finance delivery. TIB also stressed the importance of a clear roadmap for developed nations to meet financial commitments, including the $100 billion annual pledge. The organization called for unified demands to transition to renewable energy by 2050, and for excluding fossil fuel-related entities from decision-making to meet net-zero targets.
TIB further advised Bangladesh to revise key policies, including the Integrated Energy and Power Master Plan (IEPMP) and the Bangladesh Climate Change Trust Act, to prioritize renewable energy. It also recommended updating the Nationally Determined Contributions (NDCs) with input from all stakeholders and setting specific sectoral targets aligned with Bangladesh’s commitments. Additionally, TIB proposed re-purposing land previously acquired for coal and LNG power projects for renewable energy installations, supporting Bangladesh’s NDC objectives.
At COP-29, TIB seeks to hold developed countries accountable, ensure inclusive decision-making, and promote transparency in climate adaptation and mitigation efforts.
