This paper is based on the presentation given by the author at the Fifth WIEF roundtable on climate change held in Dhaka, organized by the WIEF secretariat on 20 March 2012. The paper will introduce the emerging threat of climate change, identify major concerns, emphasize some of the key findings on impacts on Asia and focus on South Asia as the area of major opportunities for regional cooperation. Further Bangladesh has been analyzed in terms of its vulnerability and multi-faceted and converging impacts and potential for regional cooperation. The cooperation within the countries of South Asia on climate related activities are likely to offer opportunities for risk reductions and contributing to national and regional food, energy, water and human securities. Further the inter sub-regional cooperation between regions and countries of SAARC and ASEAN is also a major opportunity to work jointly on climate change related issues and actions which will enable both the sub-regions move towards rapid economic growth under reduced climate threat and contribute to sustainable development.