Dhaka:  Transparency International Bangladesh (TIB) on Thursday sought transparency and accountability from both ends in managing climate financing and renewed its demand for fulfilling the pledge of economic assistance made by developed countries under the ‘Copenhagen Pact-2009’.

TIB Executive Director Dr Iftekharuzzaman said the deficit of Green Climate Fund (GCF) has created a profitable business scope for different international investment agencies which he termed unethical and deviation from commitment, reports the UNB.

He made the remarks at a press briefing held at Midas Centre in the city.

Dr Iftekhar urged the government to skillfully negotiate the issues of fund for developing countries, including Bangladesh in the forthcoming 24th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) which is also known as COP-24 conference to take place in Katowice, Poland from December 3-14.

The TIB Executive Director also said though Bangladesh is expected to work effectively merging with other six countries receiving the money, negotiators from Bangladesh’s end should understand the underlying competition and act accordingly.

In a written statement, Senior Programme Manager of TIB Jakir Hossain Khan said Bangladesh along with seven countries were assured of receiving financial aids from GCF up to US$ 100 billion every year till 2025 to adapt to climate change and fight with its hazards, of which only US$ 7 billion have been financed against project demands worth US$ 12 billion.

As there is no existence of a roadmap right now for releasing the approved funds to specific countries, GCF board has only provided project money of US$ 1.4 billion which has already raised questions about their effectiveness, he added.

Khan lauded the government’s actions including allocation of money for Bangladesh Climate Change Trust Fund (BCCTF) while expressed concerns about its decreasing amount and corruptions.

TIB presented a set of proposals to the signatory countries of Paris Pact-2015 for the coming COP-24 conference which included a transparent structure for climate funding for both developing and developed countries; formulation of a timely roadmap for fund release.