Bangladesh has the potential to generate up to $1.0 billion annually from the global carbon market, but a lack of clear national policy continues to limit investment in the sector, analysts said at a discussion.
Despite some progress, including $17 million earned since 2006 through projects like improved cooking stoves and solar home systems, the analysts stressed the need for stronger policy direction to unlock the country's full potential.
The discussion, titled "Catalysing carbon financing in Bangladesh: private sector pathways and policy readiness," was held recently in Dhaka and organized by international consultancy firm LightCastle Partners.
The event was organized to raise awareness among private sector leaders and investors about the country's readiness for carbon market participation and the implementation of Article 6 under the Paris Agreement.
At the event, Lincoln Teo, managing director of ZERO13, in his presentation emphasized Bangladesh's commitment to combating climate change, citing national goals to produce 16 percent of energy from renewable sources by 2030 and to reduce annual carbon emissions by 89.47 metric tonnes of CO₂e.
He said that achieving these targets would significantly support sustainable agriculture, water management, and overall economic growth.
