Speakers at a workshop yesterday underscored the need for proper climate finance handling to address climate change issues for achieving the Sustainable Development Goals (SDGs), reports BSS. They came up with the observation at the inaugural session of the half-day dissemination workshop on “Climate Financing for Sustainable Development: Budget Report 2018-19” at the Audit Bhaban in the capital.

Comptroller and Auditor General (CAG) of Bangladesh Mohammad Muslim Chowdhury was present as the chief guest unveiling the “Citizens Climate Budget Report 2018-19” at the function. “Bangladesh has already shown its seriousness on the issues of climate financing . . . So, the demand for proper handling of the financing issues is raising gradually,” Chowdhury said.

He said CAG office need to look into the climate financing issue in a careful manner to ensure its appropriate and transparent use.

Inclusive Budgeting and Financing for Climate Resilience (IBFCR) Project of the Finance Division organised the workshop and report launching ceremony.

Environment, Forest and Climate Change Secretary Abdullah Al Mohsin Chowdhury was present as the special guest with Additional Secretary of the Finance Division and National Project Director of the IBFCR Project M Jafar Uddin in the chair. IBFCR Project Manager Ranjit Kumar Chakraborty delivered the welcome speech.

Mohsin Chowdhury said the Paris agreement on climate change emphasised the consistent flow of financing for climate resilient development and low greenhouse gas emission.

 “Bangladesh has taken some remarkable steps by generating own flow of finance for addressing climate change,” he added.

He thanked the Prime Minister Sheikh Hasina for her thoughtful decision of preparing the Bangladesh Climate Change Strategy and Action Plan (BCCSAP) and creating the Bangladesh Climate Change Trust Fund from own source, saying the BCCSAP and the Trust Fund are the foundation of our climate finance framework.

Regarding the Climate Budget Report 2018-19, Mohsin Chowdhury said major 20 ministries will be spending Taka 18,948.76 crore for addressing climate change which accounts for 9 percent of the total budget and 0.75 percent of the country’s GDP.

“This figure indicates a growing importance for climate action within the government,” he added.

He said Environment, Forest and Climate Change Ministry is going to start preparing the National Adaptation Plan that will show the country’s long term adaptation pathway for addressing climate change.

 In the business session of the workshop, two presentations on “Climate Finance Tracking Methodology” and “Climate Financing for Sustainable Development: Budget Report 2018-19” were presented.

Finance Division Joint Secretary M Habibir Rahman chaired the business session.