Financing, tech and innovation needed ‘for just transition to greener economy’

State Minister for Foreign Affairs Md Shahriar Alam on Wednesday described financing, technology, and innovation as significant tools for the just transition to a greener economy, reports UNB.
He also highlighted that the government of Bangladesh has intensified its focus on a just transition by fostering green growth, as envisioned in the landmark Mujib Climate Prosperity Plan (MCCP).
The State Minister for Foreign Affairs stressed the fulfillment of international commitments by the developed countries on climate financing and technology transfer under various multilateral mechanisms including the Paris Agreement to achieve the goal of a just transition.
He further emphasised trade collaborations within North-South, South-South, as well as the active role of the private sector in this regard.
The State Minister was speaking as the chief guest at the opening ceremony of the 1st Bangladesh Climate Action Forum 2023, held in Dhaka.
The event was organised by Bangladesh Apparel Exchange (BAE) under the theme of "Driving Climate Action through Technology, Innovation, and Collaborative Financing for a Just Transition."
Ambassador and Head of Delegation of the European Union to Bangladesh Bangladesh Charles Whiteley emphasized the need for collaborative action toward achieving a sustainable future.
"I think we are all learning to talk more about climate issues and how they are related to all aspects of life. I think what we are seeing here today at the Climate Action Forum is an outstanding demonstration of thinking global and acting local," he said.
Thijs Woudstra, Deputy Ambassador of the Netherlands to Bangladesh, highlighted the substantial environmental impact achieved through cooperation.
"Through the PACT program, The Dutch contribution helped the industry save more than half a million tons of greenhouse gases, which corresponds to taking 900 cars off the road."
Michal Krejza, Head of Development Cooperation at the Delegation of the European Union to Bangladesh, stressed the need for collective action.
"The response to climate change obviously cannot be limited to public authorities alone. It will need the commitment of all through a whole-of-society approach."
Pallak Seth, Founder & Executive Vice Chairman of PDS Limited, emphasised Bangladesh's pivotal role in the global climate agenda: "We consider Bangladesh one of our key partner countries. While we have a global sourcing organization, we commend Bangladesh for its world-leading steps in building climate resilience within its workforce and industry practices. These initiatives, driven by both the government and manufacturers, are remarkable."
Mostafiz Uddin, Founder & CEO of Bangladesh Apparel Exchange, expressed his satisfaction at the inclusion of the manufacturing sector in the climate action discourse.