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19 September, 2019 00:00 00 AM
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Green financing to help sustainable dev

Experts tell seminar
STAFF REPORTER, Dhaka

Green financing should be the dominant investment portfolio in each and every bank and financial institution for sustainable economic growth, said experts.  

The need for more incentives and guidance to make the private sector more environmental-friendly is now more relevant than ever before, they added.

The experts were speaking yesterday at a programme titled ‘Green Financing for Sustainable Growth’.

The Nordic Chamber of Commerce and Industry (NCCI) in Bangladesh—in cooperation with the Norwegian embassy, the Danish embassy and the Swedish embassy—organised the event, held at a hotel in the capital yesterday. The event was also co-hosted by the German Society for International Cooperation (GIZ).

The speakers highlighted the importance of formulating capacity development strategies to create a more enabling environment for the private sector to invest in green and sustainable projects.

Economic affairs adviser to the Prime Minister, Dr Mashiur Rahman, said green financing should be scaled up significantly to support broader sustainable development to usher in positive economic and environmental impacts.  

He also said that the practice of green financing, which had an inherently positive environmental impact, would allow the investors to combine financial returns with environmental benefits.

The aim of the program was to bring together members, financial institutions, regulatory bodies, academics, policymakers and advocacy coalitions to bridge the information gap relating to green

financing in the market. Foreign dignitaries and business leaders also attended the event.

The organisers encouraged discussions on potential recipients, facilitators and stakeholders of funds. They also promoted discussions on the opportunities, benefits and challenges associated with availing such finance. NCCI members and stakeholders were also introduced to the policies and regulations in place to access green finance.

Addressing the opening ceremony, NCCI president Tareq Rahman stated that the NCCI had been busy in promoting business and growth in Bangladesh

Talking about sustainability, Rahman said the NCCI had implemented an energy efficiency engagement project, known as 3e, funded by the Danish International Development Agency (DANIDA). It provides energy assessments of local factories and industries, showing that profitability and sustainability can go hand in hand, and develops a knowledge hub to showcase the benefits of energy efficiency for local industries.  

3e has conducted more than 65 energy assessments of factories in several sectors, he added.

The findings from the assessment reports show that companies can save 17 per cent of energy consumption, 21 per cent of energy costs and 18 per cent of CO2 emissions, he noted.

Talking about challenges, Rahman said: “Today’s event is merely a continuation of what has been taking place. A common theme we observed is the lack of finance and information regarding finance for sustainable green projects.”

Special guests at the event included included DG-Asia, foreign affairs ministry, Sweden, Cecilia Ruthström-Ruin, who highlighted the importance of sustainable procurement practices and its benefits in her address.

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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