PM orders steps to reduce carbon emissions, increase carbon credits

Prime Minister Tarique Rahman has directed authorities to formulate a plan to reduce carbon emissions and increase the country's carbon credits.

He issued the directives at a meeting on climate change at the Cabinet Division in the Secretariat on Sunday, July 5.

The prime minister emphasised increasing the use of renewable energy, applying environmentally friendly technology in the industrial sector, improving energy efficiency, conserving forests and increasing carbon absorption through large-scale tree plantation, according to Deputy Press Secretary Hasan Shiplu.

He also stressed taking practical plans to capitalise on Bangladesh's potential in the international carbon market.

The prime minister also emphasised ensuring transparency in carbon credit management, building a reliable database and increasing coordination with international organisations.

He ordered the formation of a committee to strengthen coordination among concerned ministries and agencies to achieve carbon credits.

Carbon credits are an international financial mechanism for environmental protection. One carbon credit is issued for reducing or removing one tonne of carbon dioxide or an equivalent amount of greenhouse gases from the atmosphere.

Carbon trading is a market-based system for controlling greenhouse gas emissions. Governments or international bodies set a limit on carbon emissions for countries, institutions or companies. Those exceeding the limit must buy carbon credits from the market. Countries or institutions that reduce emissions through afforestation, renewable energy, energy efficiency or clean technology can earn carbon credits and sell them.

The meeting was attended by Environment, Forest and Climate Change State Minister Sheikh Faridul Islam, Prime Minister's Education, Expatriates' Welfare and Overseas Employment and Labour and Employment Adviser Mahdi Amin, Prime Minister's Special Assistant for Health Dr S M Ziauddin Hyder, Special Assistant for Environment, Forest and Climate Change Dr Saimum Parvez, and secretaries of concerned ministries.