Bangladesh Bank (BB) and the United International locations Trend Programme (UNDP) dangle signed a Memorandum of Working out (MoU) at the BB situation of job to plan native climate-resilient financing.
This partnership is designed to mitigate the mammoth economic losses Bangladesh faces per annum attributable to native climate-prompted mess ups.
By embedding sustainable finance practices, the collaboration targets to bolster the nation’s adaptation and native climate mitigation suggestions.
The MoU became signed the day past by Chowdhury Liakat Ali, director of the Sustainable Finance Department at Bangladesh Bank, and Stefan Liller, UNDP Bangladesh’s Resident Guide, a UNDP press launch mentioned this day.
Dr Ahsan H. Mansur, Governor of Bangladesh Bank, Nurun Nahar, Deputy Governor, and UNDP representatives were demonstrate on the event.
Speaking at the event, Stefan Liller highlighted the importance of the partnership.
“This collaboration will enhance Bangladesh in building monetary resilience. By working with Bangladesh Bank and other partners, we intention to combine native climate considerations into monetary insurance policies”, he mentioned.
“UNDP will also work alongside private banks and finance companies to give a enhance to native climate-connected monetary disclosure and support them determine the dangers and opportunities associated with native climate alternate,” he added.
Chowdhury Liakat Ali highlighted key substances of the settlement, noting, “By scheme of this MoU, UNDP and Bangladesh Bank will collectively work on constructing a local climate wound just for monetary assets, assessing the impact of native climate-connected physical dangers the utilization of the Climate Vulnerability Index (CVI) methodology in focused unions.”
This partnership will focal point on strengthening native climate vulnerability modelling for enhanced monetary planning, constructing innovative monetary instruments to promote native climate resilience and supporting the monetary sector in adopting global environmental, social, and governance (ESG) standards.
This collaboration will guarantee Bangladesh is greater equipped to face native climate challenges and form a sustainable future.
