Every year, as April 22nd approaches, Earth Day emerges as more than a date on the calendar; it is a confrontation with the human conscience. We are forced to ask: Are we leaving a livable planet for those who follow?
The 2026 theme, ‘Our Power, Our Planet,’ carries a weight that transcends simple phrasing. It is a political and economic mandate. Protecting the Earth cannot rest solely on the shoulders of governments or the outcomes of annual summits. This battle is fueled by daily habits, civic consciousness, and a radical transformation of the global financial architecture.
Historically, environmentalism has been oversimplified into acts like tree planting. While noble, true protection is rooted in collective movement. The movement ignited on April 22, 1970, remains our bedrock. Yet today, we face a harsh reality: vast portions of our planet are engulfed in the flames of war. The toxic smoke of conflict does more than darken skies; it actively undermines "Climate Justice."
The Carbon Scar of War When we discuss climate change as a "man-made" disaster, the word "war" is frequently absent. Yet, modern warfare is a massive carbon-emitting machine. A primary challenge is the lack of transparent data regarding military emissions. Research indicates the global military carbon footprint accounts for approximately 5.5% of total global emissions. Because most countries do not fully disclose this, a significant volume of carbon remains off the official books.
Recent conflicts in Ukraine and the Middle East reveal how toxic gases are emitted through military fuel, heavy ammunition, strikes on energy infrastructure, and carbon-intensive post-war reconstruction. The numbers are staggering: emissions related to the Ukraine war have exceeded 311 million tons of CO2 equivalent—equal to the annual emissions of an entire developed nation. Similarly, the Gaza crisis footprint is estimated at 33 million tons, comparable to the annual emissions of Jordan.
The UN Environment Programme (UNEP) warns that debris in war zones poses long-term health risks. In Gaza, more than 40 millions tons of rubble contain chemicals that could permanently contaminate soil. Peace is not just a humanitarian goal; it is a climate imperative.
The Bangladesh Struggle For Bangladesh, Earth Day is a struggle for existence. As a nation consistently high on the Global Climate Risk Index, we face a daily reality of cyclones, tidal surges, and rising sea levels. In coastal areas, salinity already jeopardizes the livelihoods of millions.
Despite this, Bangladesh remains steadfast. Our ‘Nationally Determined Contributions’ (NDC 3.0) submitted in 2025 targets an emissions reduction of 20.31% by 2035. However, implementation requires funding. To enact the National Adaptation Plan (NAP), Bangladesh needs approximately $230 billion
Bangladesh needs approximately $230 billion over the coming decades. Why must countries like ours bear the economic burden of emissions largely caused by developed nations?
The Power of Sustainable Finance One of our most potent weapons is Sustainable Finance. The logic is simple: capital should flow toward projects that enhance environmental resilience. The Sustainable Finance Policy introduced by Bangladesh Bank in 2020 established this foundation.
A major hurdle is the disparity in interest rates. IMF research shows climate-vulnerable countries pay an average of 1.17% more in interest than lower-risk nations. The ‘V20’ group reports these countries have paid over $62 billion in additional interest over the last decade due to this "climate premium." This systemic inequality rubs salt in the wounds of those already suffering.
In this context, Bangladesh Bank’s directives are encouraging. Starting in 2025, banks must allocate 5% of total term loans to ‘Green Finance’ and 40% to ‘Sustainable Finance’—a doubling of the previous 20% target. For 2025, the green finance target was set at BDT 67,821 crore, while sustainable finance reached BDT 5,43,000 crore. Currently, achievements stand at 44% for green and 82% for sustainable finance, signaling a positive transformation despite global instability.
Green Bonds and Global Gaps A total green transition cannot rely on bank loans alone. Because eco-friendly projects are long-term, ‘Green Bonds’ are essential. While global climate finance reached $1.9 trillion in 2023, the world requires an annual average of $9.2 trillion spending on physical assets to achieve ‘Net-Zero’ by 2050. Developed countries must fulfill financial promises and redirect fossil fuel subsidies toward climate action.
Bangladesh must now adopt a two-pronged strategy: first, internationally- demand that global warfare does not penalize developing nations’ climate goals; second, domestically- mandate that financial institutions evaluate Environmental and Social Risk Management (ESRM) for every loan.
The Last Chance Earth Day must not be confined to slogans. In a country where coasts are eroding and city air is toxic, this is life or death. Our strength lies in green investments. While the gunpowder of war will eventually settle, the scars will haunt us for centuries. If the financial sector drives the economy, its greatest responsibility is the survival of the Earth.
Let us build an economy that protects people and the planet over mere profits. If the Earth is in peril, no bank balance or GDP growth can save us. Our collective power must save our planet.
M M Mahbub Hasan Banker, Development Researcher and Author
