The government has formed a 25-member ‘National Committee on Climate Finance’ (NCCF) to bring the country’s climate financing, carbon credit, and carbon trading activities under a coordinated and effective national framework.
Prime Minister Tarique Rahman will chair the committee, while Environment Minister Abdul Awal Mintoo has been made its vice-chairman, according to a PID handout on Tuesday.
Committee for Administrative Reform formed with PM Tarique Rahman as chairman
PM’s Special Assistant on Environment, Forest and Climate Change Dr Saimum Parvez will act as the coordinator of the committee. The secretary of the environment ministry will serve as its member secretary.
Other members of the committee include State Minister for Environment, Forest and Climate Change Shaikh Faridul Islam; PM’s Special Assistant on Health Dr SM Ziauddin Hyder; and PM’s Adviser on Education, Primary and Mass Education, Expatriates' Welfare and Overseas Employment, and Labour and Employment Mahdi Amin.
Formed under the direct leadership of the Prime Minister, the committee will determine Bangladesh’s national vision, goals, and strategic priorities regarding climate finance and carbon credits. It will also provide overall policy directives at the national level on these issues.
The committee is tasked with advising on the formulation, approval, and implementation of the country's national carbon credit and climate finance framework in alignment with international commitments, notably Article 6 of the Paris Agreement.
It will provide policy guidance for conducting carbon trading activities in the country and supervise the functions of the Designated National Authority nominated to implement Article 6.
Furthermore, the newly formed NCCF will finalize policies, strategies, and guidelines concerning climate finance and recommend necessary amendments and reforms to the existing policy framework. It will maintain communication with bilateral and multilateral climate funds and international development partners, devise fund-mobilization strategies, and monitor and evaluate the progress of related projects and programs.
The national committee has also been entrusted with supervising the activities of the implementation and technical committees on climate finance, reviewing their reports and providing necessary directives. It will resolve any complexities arising from inter-ministerial policy matters regarding climate finance.
Additionally, the Principal Secretary to the Prime Minister and secretaries from 16 ministries and divisions including local government, foreign affairs, economic relations, disaster management and relief, land, power, energy and mineral resources, industries, commerce, road transport and highways, civil aviation and tourism, shipping, railways, agriculture, fisheries and livestock, and water resources have been included as members.
According to the notification, the committee will meet at least twice a year, though meetings can be convened at any time if necessary. The committee reserves the right to co-opt new members as needed.
The gazette notification came into effect immediately upon issuance.