Bangladesh’s ambition to build a trillion-dollar, climate-resilient economy will depend heavily on its ability to mobilise affordable and accessible climate finance for the private sector, particularly small and medium-sized enterprises (SMEs), speakers said at a high-level programme in Dhaka.
BGMEA Vice President Ms. Vidiya Amrit Khan made the remarks while participating as a panelist in the programme titled “Building Bangladesh a Trillion-Dollar Climate-Resilient Economy: Accelerating Climate Finance Mobilisation through Designing Strategic & Investment-Ready Climate Projects,” held on August 6 at Pan Pacific Sonargaon Dhaka.
During the panel discussion, Khan highlighted the critical financing challenges facing Bangladesh’s ready-made garment (RMG) industry as manufacturers accelerate investments in renewable energy, resource efficiency, decarbonisation and climate resilience.
She stressed that climate action in the apparel sector cannot be achieved through commitments alone. Factories need access to financing that is affordable, practical and aligned with the long-term investment requirements of green transformation.
“Investment-ready” climate projects, she indicated, need to be supported by appropriate financial instruments, technical expertise and stronger coordination among manufacturers, financial institutions, development partners and policymakers.
Her comments come as Bangladesh’s RMG industry faces increasing pressure to reduce carbon emissions and improve resource efficiency while maintaining its competitiveness in global markets. BGMEA has repeatedly called for greater access to climate finance, arguing that the financial burden of the green transition should not fall solely on manufacturers.
At London Climate Action Week in June, Khan similarly stressed that decarbonisation in the apparel and textile sector requires accessible climate finance, supportive policies and stronger partnerships. She also argued that international brands should share the financial responsibility for sustainability investments made by their manufacturing partners.
The issue has also featured prominently in BGMEA’s engagement with Bangladesh’s Economic Relations Division (ERD). In March, Khan met with ERD officials to discuss climate action, climate funding, industrial decarbonisation and strategies for meeting emerging international environmental requirements.
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The 6 August programme brought together senior government officials, development partners and representatives of the private sector to explore how Bangladesh can develop a stronger pipeline of strategic climate projects capable of attracting domestic and international investment.
The event featured Dr. Rashed Al Mahmud Titumir, Adviser to the Prime Minister on Finance and Planning; Dr. Saimum Parvez, Special Assistant to the Prime Minister; British High Commissioner to Bangladesh Ms. Sarah Cooke; and UN Resident Coordinator a.i. in Bangladesh Ms. Carol Flore-Smereczniak, among other distinguished participants.
Qingfeng Zhang, Country Director of the Asian Development Bank (ADB), joined the programme as Special Guest, while Md. Shahriar Kader Siddiky, Secretary of the Economic Relations Division (ERD), chaired the event.
The programme was organised by the International Climate Finance Cell (ICFC) of the ERD, Ministry of Finance, under the Bangladesh Climate Development Partnership (BCDP), with technical support from ADB. BGMEA Secretary General Major General Dr. Md. Shahedul Islam (Retd.) and Mr. Sajjadul Alam, Senior Assistant Secretary, also participated.
The initiative comes as Bangladesh seeks to strengthen the institutional mechanisms needed to convert climate priorities into projects that can attract financing. ADB’s support for operationalising the BCDP focuses on building project pipelines, mobilising climate finance, strengthening institutional capacity and improving coordination across government and other stakeholders.
Bangladesh’s financing requirements for climate action are substantial. According to ADB, the country estimates that implementing its climate-related plans will require around US$230 billion for adaptation by 2050 and US$176 billion for mitigation by 2030. The development bank has identified limited climate financing and insufficient private-sector participation as key challenges to scaling climate action.
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The government has therefore been placing greater emphasis on developing bankable and investment-ready climate projects capable of attracting a combination of public, private and international financing. The ICFC has also been working to strengthen institutional capacity for identifying, developing and mobilising resources for such projects.
For Bangladesh’s RMG sector, the financing challenge is particularly important. The industry has already made significant progress in green manufacturing, but the next phase of transformation will require large-scale investments in rooftop solar, energy efficiency, cleaner production technologies, circularity, water and resource efficiency, and emissions reduction.
BGMEA’s recent initiatives reflect this direction. The association has been working with stakeholders on renewable energy adoption, including rooftop solar and battery storage, while also pursuing partnerships focused on industrial decarbonisation and sustainable machinery upgrades.
The latest discussion therefore signals a growing convergence between Bangladesh’s national climate-finance agenda and the RMG sector’s need for affordable green investment. For the industry, ensuring that climate finance reaches factories—especially SMEs—could be critical to translating Bangladesh’s climate ambitions into measurable reductions in emissions, energy consumption and resource use.
As Bangladesh moves toward a more climate-resilient and investment-driven economic model, the success of this transition will increasingly depend not only on how much climate finance is mobilised, but also on whether financing mechanisms are accessible to the businesses that must implement the transformation on the ground.