PM Tarique Rahman to head newly-formed national committee on climate finance

The government has formed a 25-member National Committee on Climate Finance (NCCF) to bring climate finance, carbon credits and carbon trading activities under a coordinated and effective national framework.

According to a notification issued by the Ministry of Environment, Forest and Climate Change on September 1, Prime Minister Tarique Rahman will serve as chairman of the committee. 

Environment Minister Abdul Awal Mintoo will be the vice-chairman, while Md Saimum Parvez, the Prime Minister’s Special Assistant for Environment, Forest and Climate Change, will be responsible for coordinating the committee. 

The notification names him as the committee’s coordinator. 

The secretary of the Ministry of Environment, Forest and Climate Change will serve as member-secretary.

The high-level committee, formed under the direct leadership of the Prime Minister, will determine Bangladesh’s national vision, goals and strategic priorities on climate finance and carbon credits. 

It will also provide overall policy guidance at the national level on carbon credits and climate finance.

In line with international commitments, including Article 6 of the Paris Agreement, the committee will advise on the formulation, approval and implementation of Bangladesh’s national carbon credit and climate finance framework. 

At the same time, it will provide policy guidance for carbon trading activities in the country and oversee the activities of the Designated National Authority responsible for implementing Article 6.

The newly-formed committee will finalise policies, strategies and guidelines on climate finance; recommend necessary amendments and reforms to existing policy frameworks; engage with bilateral and multilateral climate funds and international development partners; determine strategies for mobilising finance; and monitor and evaluate the progress of relevant programmes and projects.

The national committee will also oversee the activities of implementation and technical committees on climate finance, review their reports and provide necessary guidance. 

It will also take decisions to resolve complications arising from inter-ministerial policy issues related to climate finance.

According to the notification, the committee will meet at least twice a year. However, meetings may be convened at any time if necessary. 

The committee may co-opt new members when required. The committee became effective immediately upon issuance of the notification.