A recent study by Cornell University and Schroder’s indicates that Bangladesh could face significant economic losses, including nearly $27 billion in export earnings and 250,000 job losses by 2030 due to climate-induced disruptions. These findings align with reports of rising workplace heat, particularly in the apparel sector, which forms a crucial part of Bangladesh’s economy.
Ready-Made Garments (RMG) sector has faced challenges in recent years, including delayed payments and order cancellations by buyers. With climate change exacerbating these risks, Bangladesh risks losing progress made in economic development. While experts have long advocated for diversifying exports beyond the RMG sector, the current situation underscores the urgency of this diversification.
Bangladesh’s vulnerability to climate change underscores the need for authorities to advocate for climate justice, including accessing loss and damage funds. Despite Bangladesh’s efforts in combating climate change, it remains disproportionately affected by its consequences, highlighting the need for global action.
To safeguard economic development, Bangladesh must prioritize addressing the imminent threat of climate change and advocate for its rightful compensation for the actions of industrialized nations. The urgency of the situation calls for immediate action from the international community.
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