The World Bank has asserted that private sector-driven solutions will be increasingly vital for Bangladesh and other South Asian countries to cope with escalating climate threats.
The region faces significant risks, including nearly 90% of the population expected to experience extreme heat and about a quarter at risk of severe flooding by 2030.
Households (80% taking action) and firms (63% taking action) currently bear most of the adaptation burden, primarily using low-cost solutions rather than advanced technology or public infrastructure. Over three-quarters of firms and households expect a weather shock within the next 10 years.
A survey of 250 coastal villages in Bangladesh highlighted climate-resilient infrastructure as the most urgent unmet need.
Households cite inadequate disaster-protection infrastructure (57%) and limited financial resources (56%) as key obstacles, disproportionately affecting poor and agricultural communities.
Private sector adaptation is essential due to limited government budgets. About one-third of climate-related losses could be avoided if private investments are targeted correctly.
Governments must facilitate private action by scaling up early warning systems, social protection, climate-smart agriculture, access to finance/insurance, and improving transport and digital networks. The World Bank cited Bangladesh as a "test case" for climate adaptation in South Asia, calling for urgent, coordinated action and strong partnerships between the government, private sector, and local communities.
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