National Committee on Climate Finance formed with PM as chairman

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

According to a notification issued by the Ministry of Environment, Forest and Climate Change on 1 September, Prime Minister Tarique Rahman will serve as the chairperson of the committee. Environment Minister Abdul Awal Mintoo will serve as vice-chairperson, while the Prime Minister’s Special Assistant for Environment, Forest and Climate Change, Dr Md Saimum Parvez, will have the key responsibility of coordinating the committee’s activities. The notification has designated him as the coordinator of the committee. The Secretary of the Ministry of Environment, Forest and Climate Change will serve as the member-secretary.

Members of the committee include State Minister for Environment, Forest and Climate Change Sheikh Faridul Islam, the Prime Minister’s Special Assistant for Health Dr SM Ziauddin Haider and the Prime Minister’s Adviser for Education, Primary and Mass Education, Expatriates’ Welfare and Foreign Employment and Labour and Employment Mahdi Amin.

Other members of the committee are the Principal Secretary to the Prime Minister and the secretaries of the Local Government Division, Ministry of Foreign Affairs, Economic Relations Division, Ministry of Disaster Management and Relief, Ministry of Land, Power Division, Energy and Mineral Resources Division, Ministry of Industries, Ministry of Commerce, Road Transport and Highways Division, Ministry of Civil Aviation and Tourism, Ministry of Shipping, Ministry of Railways, Ministry of Agriculture, Ministry of Fisheries and Livestock, and Ministry of Water Resources.

Formed under the direct leadership of the Prime Minister, the high-level committee will determine Bangladesh’s national vision, goals and strategic priorities regarding climate finance and carbon credits. The committee will also provide overall policy guidance at the national level on matters related to carbon credits and climate finance.

In light of 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 (DNA) for implementing Article 6.

The newly formed committee will finalise policies, strategies and guidelines related to climate finance; recommend necessary amendments and reforms to existing policy frameworks; maintain communication 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 has also been entrusted with overseeing the activities of implementation and technical committees related to climate finance, reviewing their reports and providing necessary guidance. The committee will also make decisions to resolve complexities arising from inter-ministerial policy issues related to climate finance.

According to the notification, the committee will hold meetings 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.