Speakers on Saturday urged to have an implementation roadmap in the National Adaptation Plan (NAP) for effective integration of the private sector engagement in climate change adaptation.
They made the call at a consultation with the private sector stakeholders jointly organised by the Ministry of Environment, Forest and Climate Change (MoEFCC), Economic Relations Division (ERD) of the Ministry of Finance and United Nations Development Programme (UNDP) with support from the Green Climate Fund (GCF).
Iqbal Abdullah Harun, Additional Secretary (Admin Wing), MoEFCC was present as the Chief Guest While Amal Krishna Mandal, Joint Secretary and Wing Chief, Economic Relations Division, Planning Commission attended the consultation as the Special Guest.
Md Mizanul Hoque Chowdhury, Additional Secretary (Climate Change Wing), MoEFCC and National Project Director of the NAP Formulation Project chaired the session.
Masuma Khanam, Deputy Secretary and Director, Natural Resources Management; A K M Azad Rahman, Programme Officer-Climate Change, UNDP and Dr A Atiq Rahman, Executive Director of Bangladesh Centre for Advanced Studies were also present.
Iqbal Abdullah Harun advocated for the need to innovate sustainable financing tools for encouraging the private sector in climate change adaptation.
While making the presentation on the potential role of the private sector for implementation and financing of the NAP, Dr Dwijen Mallick, Director, BCAS made an overview of the interests and the benefits of the private sector engagement, financing of adaptation through corporate social and environmental responsibility (CSER), tax exemption and public-private-partnership.
He identified food and agriculture, water management, WASH, health and risk management, infrastructural development, tourism and city resilience as potential sectors for private sector-led adaptation.
Dr Fazle Rabbi Sadeque Ahmed, Deputy Managing Director of Palli Karma Sahayak Foundation (PKSF) said that NAP must make concrete recommendations for the engagement of the private sector – the approach has to offer a business model ensuring profitability and environmental sustainability at the same time
Md Mazharul Islam Rana, Executive Director of Meghna Life Insurance said that There are ample scopes of involvement of the insurance sector in address climate hazards like cyclone and flood.
“we can work with the public sector in designing innovative business models, products and provide financial security to the vulnerable”.
Ishrat Jahan, Senior Director, Chal Dal Limited recommended that the government can consider tax rebate for special projects and initiatives by the private sector focusing on climate change adaptation.
Syeda Masuma Khanam mentioned that as environmental sustainability is becoming increasingly important, private sector can effectively take part in climate change adaptation by ensuring environmental compliance.
The Chair Md Mizanul Haque Chowdhury said that Without the effective participation of the private sector, we will not be a climate resilience country – effective integration of the private sector will help us turn our vulnerability into resilience.
More than 40 representatives from different private sector entities, government ministries, departments and UNDP attended the event and provided their valuable comments on how the private sector can support the formulation of the National Adaptation Plan (NAP) and contribute toward its implementation.
Source: United News of Bangladesh