Prime Minister Tarique Rahman has directed the relevant authorities to formulate a comprehensive plan to reduce carbon emissions and enhance Bangladesh's carbon credit potential.
He gave the directives at a meeting on climate change held at the Prime Minister's Office in the Bangladesh Secretariat on Saturday. Deputy Press Secretary to the Prime Minister Hasan Shiplu disclosed the information to journalists after the meeting.
During the meeting, the prime minister stressed increasing the use of renewable energy, promoting environmentally friendly technologies in the industrial sector, improving energy efficiency, conserving forests, and expanding nationwide tree plantation programmes to increase carbon absorption. He also instructed officials to prepare a realistic strategy to capitalize on Bangladesh's opportunities in the international carbon market.
The prime minister further emphasized ensuring transparency in the carbon credit management system, developing a reliable database, and strengthening coordination with international organizations.
He also directed the formation of a committee to enhance coordination among the relevant ministries and agencies to facilitate the country's efforts to earn carbon credits.
Officials attending the meeting said that effective implementation of emission reduction measures would significantly improve Bangladesh's prospects of earning carbon credits under internationally recognized standards.
A carbon credit is an internationally recognized financial instrument awarded for reducing or removing one metric tonne of carbon dioxide or an equivalent amount of greenhouse gas emissions from the atmosphere.
Carbon trading, meanwhile, is a market-based mechanism designed to control greenhouse gas emissions. Under this system, governments or international organizations set emission limits for countries, companies, or institutions. Those exceeding the permitted limit are required to purchase carbon credits, while countries or organizations that reduce emissions through afforestation, renewable energy, improved energy efficiency, or clean technologies can earn carbon credits. These credits can then be sold to entities that exceed their emission limits.
The meeting was attended by State Minister for Environment, Forest and Climate Change Shaikh Faridul Islam; the Prime Minister's Adviser on Education, Expatriates' Welfare and Overseas Employment, and Labour and Employment, Mahdi Amin; Special Assistant to the Prime Minister on Health Dr SM Ziauddin Hyder; Special Assistant on Environment, Forest and Climate Change Dr Saimum Parvez; secretaries of the relevant ministries; and other senior government officials.