Staff Reporter, Dhaka

Environment, Forest and Climate Change Minister Abdul Awal Mintu on Tuesday called for a coordinated effort across all relevant ministries, departments, and stakeholders to establish a transparent, accountable, and effective carbon market in Bangladesh while safeguarding national interests.

The minister made these remarks while addressing an inter-ministerial meeting on the draft 'Bangladesh Carbon Market Framework' held at the ministry’s conference room at the Bangladesh Secretariat. The meeting was chaired by Environment Secretary Dr. Fahmida Khanam.

Minister Mintu highlighted that the international carbon market opens up significant opportunities for Bangladesh to access climate finance, technology transfer, and green investments.

"While pursuing these opportunities, we must ensure environmental integrity, transparency, and accountability, as well as guarantee fair benefit-sharing for local communities and stakeholders," the minister said.

He noted that a functional carbon market will play a crucial role in fulfilling Bangladesh’s Nationally Determined Contributions (NDCs) under the Paris Agreement. Accurate accounting, verification of greenhouse gas emission reductions and removals, and strict adherence to international standards are essential to achieving these goals, he added.

The draft 'Bangladesh Carbon Market Framework' was formulated under the overall supervision of the Ministry of Environment, Forest and Climate Change—functioning as the Article 6 Designated National Authority (A6 DNA)—with technical support from the World Bank’s Partnership for Market Implementation (PMI) program.

Speaking as a special guest, State Minister for Environment Sheikh Faridul Islam stated that the Prime Minister has directed officials to initiate official government-led carbon trading as quickly as possible, noting that private carbon trading currently exists only on a limited scale.

"We are preparing to plant 20 million trees in coastal areas this coming December and January, and we are working on mechanisms to generate carbon credits from this initiative," Islam added.

Dr. Md. Saimum Parvez, Special Assistant to the Prime Minister on Environment, Forest and Climate Change, advised all participating entities to expedite procedural requirements so Bangladesh can formally enter the global carbon market without delay.

Presiding over the meeting, Environment Secretary Dr. Fahmida Khanam assured that the framework will be refined using inputs from ministries and domain experts. Once finalized, it will provide a clear institutional framework governing carbon credit approval, accounting, monitoring, and revenue sharing.

During the session, Joint Secretary Dharitri Kumar Sarkar presented a technical overview of the draft framework. High-level representatives from various ministries and divisions—including the Economic Relations Division (ERD), Railways, Energy, Foreign Affairs, Agriculture, Industries, Planning, Power, and Local Government—offered recommendations to finalize the national draft.