Environment Minister Abdul Awal Mintoo has stressed the need for coordinated efforts by all relevant ministries, divisions and stakeholders to establish a transparent, accountable and effective carbon market that safeguards Bangladesh’s national interests.
He made the remarks at an inter ministerial meeting on the “Bangladesh Carbon Market Framework” held at the conference room of the Ministry of Environment, Forest and Climate Change at the Bangladesh Secretariat recently.
The meeting was chaired by the ministry’s Secretary, Dr Fahmida Khanom.
The environment minister said the international carbon market could create new opportunities for Bangladesh in climate finance, technology transfer and environmentally sustainable investment.
However, he stressed that environmental integrity, transparency and accountability must be ensured in carbon market activities, while guaranteeing fair benefits for local communities and other relevant stakeholders.
He said the carbon market could play an important role in implementing Bangladesh’s Nationally Determined Contributions (NDCs).
To achieve this, accurate accounting and verification of greenhouse gas emission reduction and removal activities, as well as compliance with international standards, are essential.
