Proceedings on International Conference on Disaster Risk Management, Dhaka, Bangladesh, January 12-14, 2019 Page | 694 CHALLENGES IN CLIMATE FINANCE GOVERNANCE IN BANGLADESH Md Nurul Momen 1 ABSTRACT Bangladesh has been identified globally as one of the most vulnerable countries due to climate risks, however, climate finance covers to both mitigation and adaptation programs. As the main objective of the paper, it identifies governance challenges in regard to climate change adaptation and mitigation programs in Bangladesh, how and to what extent malpractices have taken place in this sector. In regards to methodology, adopting qualitative approach this paper is based on secondary sources of information in order to explore the level and extent of integrity, accountability and transparency in case of financing adaptation and mitigation programs in Bangladesh. Keywords: Adaptation, Bangladesh, Climate Change, Governance, Mitigation Nature of Inquiry The effects of changing climatic condition are now widely recognized with significant negative consequences on economy and social livelihood. No doubt, identifying its root causes, and impacts has now become a global agenda in many international convention and protocols. Poor people, especially in the developing world, now face devastating consequences arising out from climate risks. Climate change mitigation programs in its efforts for keeping the low level of greenhouse gas emissions especially from the industrialized countries are yet to take off. It is predicted that climatic change will get worse, and may extend its magnitude further in the future. Variability in climatic conditions threatens to the future generations of human beings, and pushes people further into poverty and underdevelopment, and lock millions of people in the world deeper into it. In order to deal with climate change, a significant amount of fund is required to prevent current resultant climatic condition and the future effects of global warming. Added to that, climate financing is very important to deal with the challenges posed by global climatic variability, it is imperative for climate vulnerable countries like Bangladesh to identify the available sources of climate funding network, and utilize the funds in an effective way. However, mitigation and adaptation programs for climate crisis as a long-term strategy in poor countries like Bangladesh is not well equipped to encounter with the challenges. These programs require a sound governance environment that provides an effective utilization of fund. Given the context, the paper examines the current state of funding mechanisms and its governance challenges in regards to climate finance in Bangladesh. Theoretical Underpinning A proper understanding of climate variation and change is important for better climate change governance. It is argued that any solution with regards to climate mitigation and adaptation cannot be possible without an understanding of the nature of the climate risks. Hence, it requires legal and institutional framework and participation of multi-stakeholders who shape climate change programs as planned and effective (Fröhlich and Knieling 2013). Climate funds are channeled to tackle climate change, as it is illustrated by saying that climate finance are required to manage development challenges. The landmark Paris Agreement (PA) adopted under the UNFCCC in 2015 presents future strategic plan of action for climate risks. It outlines new international framework to maintain the synergy in processes and strategies to support climate action over time. The PA also warns to the parties to maintain transparency and accountability for the uses of climate fund (worker and Northrop, 2018). On the other hand, at domestic level, political agenda for climate finance and its action; introducing sound legal framework and mechanisms for transparency and accountability, institutional arrangement for public participation; and strengthening the capacity of concerned public institutions are the key issues in fulfilling the obligations adopted under the PA. However, it is to be noted that Paris declaration of 2015 in regard to climate governance are also closely aligned with the goals and targets of the 2030 Agenda 1 Associate Professor, Department of Public Administration, University of Rajshahi, Rajshahi-6205, Bangladesh. Email- nurulmomen78@gmail.com