The government has allocated Taka 1,501 crore for the Environment, Forest and Climate Change Ministry in the proposed budget for fiscal 2022-23, which was Taka 280 crore more than that of fiscal 2021-22.
Finance Minister AHM Mustafa Kamal proposed the allocation while placing the budget for fiscal 2022-23 in the House here today.
Taka 1,221 crore was proposed for the ministry in fiscal 2021-22, while its revised budget was Taka 1,221.
In his budget speech, Kamal said considering the immense importance of environmental protection, the government has made it mandatory to follow a pragmatic and inclusive environment-friendly plan in all development activities while addressing the risks of climate change.
As part of the implementation of the global carbon emissions reduction target, he said, the Bangladesh’s updated ‘Nationally Determined Contribution’ was finalised in August 2021.
“By 2030, the target of reducing carbon-dioxide emissions has been set at 6.73 percent with the country’s own financing and technological capabilities,” the finance minister said, adding another 15.12 percent of this emission reduction has been provisioned subject to the availability of international funding and technical assistance.
Also, he said, the process of formulating a ‘National Adaptation Plan’ to determine the long-term integrated adaptation strategy together with an action plan to tackle the country’s climate change is at the final stage and the updating of ‘Bangladesh Climate Change Strategy and Action Plan’ formulated in 2009 is in progress.
In addition, steps have been taken to make all existing industries and newly established industries environment friendly, he said.
Following this, Kamal said, new decisions have already been taken on installation of 10 coal-fired power plants worth US$ 12 billion with the generation capacity of 8,600 MW.
“Of these plants, four have been canceled and the remaining six will be renewable or gas-based, on the basis of a feasibility study. We are working on ensuring availability of 40 percent of our energy resources from renewable sources by 2041,” he added.
