Dhaka, July 5: Prime Minister Tareque Rahman has directed the authorities concerned to prepare a comprehensive national action plan to reduce carbon emissions and maximize Bangladesh’s carbon credit potential, aiming to position the country as a stronger participant in the rapidly growing global carbon market. Report BSS
The directive came during a climate change meeting held at the Prime Minister’s Office in the Cabinet Division at the Bangladesh Secretariat, according to Deputy Press Secretary Hasan Shiplu.
During the meeting, the Prime Minister emphasized accelerating the expansion of renewable energy, promoting environmentally friendly technologies in industries, improving energy efficiency, conserving forests, and implementing large-scale tree plantation programmes to enhance the country’s carbon absorption capacity. He also instructed officials to formulate practical strategies to help Bangladesh capitalize on opportunities in the international carbon market.
Highlighting the importance of good governance in carbon trading, the Prime Minister called for transparency in carbon credit management, the establishment of a reliable national carbon database, and stronger collaboration with international organizations to facilitate carbon credit generation and trading. He also ordered the formation of an inter-ministerial committee to improve coordination among government agencies working on carbon credit initiatives.
Officials attending the meeting noted that effective implementation of emission reduction measures would significantly enhance Bangladesh’s eligibility to earn carbon credits under internationally recognized standards.
A carbon credit is an internationally recognized financial instrument awarded for reducing or removing one metric ton of carbon dioxide (CO?), or its equivalent in other greenhouse gases, from the atmosphere. Countries, companies, or institutions that reduce emissions through renewable energy, afforestation, energy efficiency, or other clean technologies can generate carbon credits and sell them to entities that exceed their emission limits under carbon trading mechanisms.
Bangladesh has recently stepped up its climate agenda through initiatives such as large-scale afforestation and renewable energy expansion, with the government viewing carbon finance as a potential new source of green economic growth and climate investment.
