Bangladesh is set to significantly enhance its carbon credit potential through a new strategic action plan aimed at reducing emissions and capitalising on the international carbon market, following directives from Prime Minister Tarique Rahman.
He issued these instructions during a meeting on climate change held on Sunday afternoon at the Prime Minister’s Office, located in the Cabinet Division of Secretariat. Tarique emphasised that a realistic plan is essential for the country to benefit from the global carbon trade.
To achieve this, the prime minister highlighted several key areas: increasing the use of renewable energy, applying environment-friendly technologies in the industrial sector, improving energy efficiency, and expanding carbon absorption through forest conservation and extensive tree plantation.
Carbon credit is an international financial mechanism for environmental protection, where one credit represents the reduction or removal of one metric tonne of carbon dioxide or an equivalent amount of greenhouse gases from the atmosphere.
To streamline these efforts, Tarique ordered the formation of a dedicated committee to strengthen coordination between relevant ministries and agencies.
He also stressed the importance of ensuring transparency in management, developing a reliable database, and increasing coordination with international organisations.
The meeting clarified that carbon trading functions as a market-based system where governments or international organisations set emission limits.
Entities exceeding these limits must purchase credits, while those that reduce emissions – through measures such as afforestation or clean technology – can earn and sell credits to others. Senior officials noted that implementing these effective measures would increase Bangladesh’s opportunities to earn credits according to international standards.
The meeting was attended by the State Minister for Environment, Forest and Climate Change Shaikh Faridul Islam; the Prime Minister’s Advisor for Education, Expatriates’ Welfare and Overseas Employment, and Labour and Employment Mahdi Amin; the Prime Minister’s Special Assistant on Health SM Ziauddin Hyder; and the Prime Minister’s Special Assistant on Environment, Forest and Climate Change Saimum Parvez. Secretaries from relevant ministries and other senior officials were also in attendance.
