Involvement of private sectors necessary in climate finance: Environment minister
He said the private sector is not interested in Climate Adaptation financing. They need to be incentivized, and motivated to invest in adaptation activities.
Environment, Forest and Climate Change Minister Saber Hossain Chowdhury said the private sector needs to be involved in climate finance.
He said, "The private sector is not interested in climate adaptation financing. They need to be incentivised, and motivated to invest in adaptation activities."
The environment minister said this while addressing a session entitled 'Ensuring Public and Private Financial Flows Aligned with Environmental Goals to Close the Massive Funding' at the 6th United Nations Environment Conference being held in Nairobi, Kenya on Friday, 1 March 2024, reads a press statement today (1 March).
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Saber further said the global leadership made pledges in the past which were unkept. "The environmental goals even become stiffer and the resources we need are going to be far greater. Urgency and delivering of commitment not just signing, pledges and making landmark resolutions but implementing is a must."
"Bangladesh formulated a plan for transitioning from vulnerability to resilience and ultimately to prosperity. It requires a significant investment, estimated at nearly $80 billion. Bangladesh, with its abundant offshore wind and nature-based solutions, has outlined a plan for climate finance," he added.
Tareque Muhammad; High Commissioner of Bangladesh in Kenya; Md Abdul Wadud Chowdhury, Joint Secretary, Ministry of Environment, Forest and Climate Change and Md Sabbir Ahmed, Third Secretary at the Bangladesh High Commission in Kenya were present among the members of the Bangladesh Delegation.
