Dhaka: Prime Minister Tarique Rahman has directed the authorities concerned to formulate a comprehensive action plan to reduce carbon emissions and enhance Bangladesh’s carbon credit potential, aiming to position the country to benefit from the expanding global carbon market.
The directive came during a meeting on climate change held at the Prime Minister’s Office in the Cabinet Division at the Bangladesh Secretariat, Deputy Press Secretary Hasan Shiplu said.
At the meeting, the Prime Minister emphasized expanding renewable energy, promoting environmentally friendly technologies in industries, improving energy efficiency, conserving forests and implementing large-scale tree plantation programmes to increase carbon absorption.
He also instructed the authorities to prepare practical strategies that would enable Bangladesh to take advantage of opportunities in the international carbon market.
To ensure an effective carbon credit system, the Prime Minister stressed the importance of maintaining transparency in carbon credit management, establishing a reliable national database and strengthening coordination with international organizations to facilitate carbon credit generation and trading.
He further directed the formation of a coordination committee involving the relevant ministries and agencies to streamline Bangladesh’s efforts to secure carbon credits.
Officials attending the meeting said that effective implementation of emission reduction initiatives would significantly enhance Bangladesh’s ability to earn carbon credits in line with international standards.
A carbon credit is an internationally recognized financial instrument issued for reducing or removing one metric ton of carbon dioxide (CO₂), or its equivalent in other greenhouse gases, from the atmosphere.
Under the global carbon trading mechanism, governments or international organizations set emission limits for countries, institutions and companies. Entities that exceed their emission caps are required to purchase carbon credits, while those that reduce emissions or increase carbon absorption through afforestation, renewable energy, improved energy efficiency and clean technologies can earn and trade carbon credits in the international market.
