Updating CFF essential to reduce impact of climate change

Speakers tell workshop

22 March, 2019 12:00 AM printer

Speakers at a workshop here on Thursday laid emphasis on updating the document - climate fiscal framework (CFF) - to make it more citizen centric, leaving no one behind and reduce impact of climate change, reports UNB.

The climate fiscal framework, instituted in 2014, has been the key document to ensure that external and internal finances are used most effectively in addressing climate change, they said.

The speakers made the observation at a validation workshop on Climate Fiscal Framework (CFF), organised by the Inclusive Budgeting and Financing for Climate Resilience (IBFCR) project of the Finance Division and the United Nations Development Programme (UNDP) at CIRDAP auditorium.

Since the adaptation of CFF, it has been providing necessary guidelines for tracking climate related expenditures, estimating potential costs of long terms financing needs to combat effects of climate change and elaborate the role of government of Bangladesh towards managing climate finances in order to attain sustainability.

But as the landscape of Global and Bangladesh development has been changed, updating the CFF is also required.

Mohammad Muslim Chowdhury, Comptroller and Auditor General of Bangladesh, while speaking as a chief guest at the inaugural session said, “Whole of society approach is necessary for financing and ensuring transparency and accountability in using the funds.”

He thanked UNDP for its support since the beginning of CFF.

Sudipto Mukerjee, Resident Representative, UNDP Bangladesh, addressing as a special guest, said, “CFF has a very clear focus on marginalized people who might be left behind. Updating CFF will ensure the whole of society approach, including private sector, NGOs as well as the government bodies for building resilience to climate change.”

He also ensured the support of UNDP to any initiative of the government on climate change in future.

Abdur Rouf Talukder, Secretary, Finance Division said, CFF is a living document and it needs updating periodically.

Earlier, Ramendra Nath Biswas, Additional Secretary, Finance Division and the National Project Director, IBFCR in his welcoming remarks said, “Bangladesh is on a development highway, but the growth rate is being slowed down due to the adverse effects of climate change.

In this context, the Finance Division (FD) is trying to manage fiscal inputs and other issues related to this project to enhance climate finance governance.”

Ranjit Kumar Chakraborty, Project Manager, IBFCR, in his key note presentation explained the process of integrating climate change policies and public finance and highlighted the rationale for updating the CFF.

He said,” SDGs are considered in updating the CFF and the emerging gaps such as limited attention to fiscal policy, private sector issues, transition from whole of government to whole of society approach.”

The daylong workshop had two sessions, while the first session focused on Climate Fiscal Framework the second session focused on Climate Inclusive Macro-Economic Framework, where DrShamsulAlam Member (Senior Secretary) General Economic Division was present as the chief guest along with Shirajun Noor Chowdhury, Joint Secretary, Finance Division, Dr Altaf-ul-Alam, Joint Secretary, Finance Division, Dr. Ahsan H. Mansur, Executive Director, Policy Research Institute and Abdur Rouf Talukder, Secretary Finance Division.