Thursday | 6 February 2025 | Reg No- 06
বাংলা
   
Thursday | 6 February 2025 | Epaper

Interim government’s role in accelerating green transition

Published : Tuesday, 3 December, 2024 at 12:00 AM  Count : 361
Bangladesh has made remarkable economic strides in recent decades, driven by industrialization, infrastructure development, and a booming export sector. However, this progress has come at a significant environmental cost, with rising pollution, deforestation, and carbon emissions threatening the nation's long-term sustainability. As Bangladesh enters a new phase under an interim government, it faces the challenge of balancing continued economic growth with environmental preservation. The government now has a critical opportunity to guide the country toward a more sustainable future by integrating environmental goals into its economic development.

The urgency for this green transition is underscored by Bangladesh's vulnerability to climate change. With rising sea levels, frequent flooding, and devastating cyclones, the country's environmental challenges are growing. Additionally, the industrial sector, especially the ready-made garments (RMG) and leather industries, continues to be a major polluter. Factories discharge untreated waste into rivers, causing damage to aquatic ecosystems and contributing to water pollution, while unplanned urbanization and industrial emissions degrade air quality. Without a shift in policy, Bangladesh's economic growth could be compromised by these environmental threats.

The interim government must take bold steps to ensure environmental sustainability becomes central to the country's growth strategy. This involves building on existing frameworks for climate resilience and aligning national development plans with global climate commitments. A key initiative already in place is the roadmap to transform Bangladesh into a climate-resilient economy by 2041. The interim government can strengthen this roadmap by addressing implementation gaps and accelerating policies that foster green growth.

One of the most crucial areas for the interim government to focus on is renewable energy. While Bangladesh has made strides with solar energy projects like the Payra Solar Park, the potential for expanding renewable energy remains vast. The government should introduce incentives for both businesses and households to adopt renewable energy sources such as solar panels. Improving the national grid infrastructure to better accommodate renewable energy and fostering international partnerships for technology transfer are key steps toward reducing reliance on fossil fuels and accelerating the transition to clean energy.



Green financing is another pivotal area where the interim government can make a significant impact. While Bangladesh Bank has introduced green financing initiatives, their uptake has been slow. The government can promote awareness and simplify the application process for green loans to encourage businesses to adopt eco-friendly practices. Additionally, incorporating sustainability criteria into public procurement policies would further incentivize private enterprises to align their operations with environmental goals.

International collaboration will also play a crucial role in Bangladesh's green transition. The country needs access to advanced technologies, climate financing, and participation in global carbon markets to achieve its sustainability goals. The interim government should actively engage with international stakeholders and leverage Bangladesh's position in the global south to secure financial and technical resources for green projects. Strengthening ties with development partners and climate-focused organizations will help Bangladesh transition to a low-carbon economy and secure funding for climate-resilient infrastructure.

Finally, ensuring that the benefits of the green transition are equitably distributed across all segments of society is paramount. Rural communities and small entrepreneurs, who are often the most vulnerable to climate change, need support to adopt sustainable practices. Targeted programs that provide training, subsidies, and access to renewable energy solutions will help bridge the gap between urban and rural areas. By ensuring that the benefits of green growth are shared, the government can empower all citizens to participate in the sustainable future of the nation.

In conclusion, Bangladesh's green transition is not only an environmental necessity but an opportunity to secure a resilient and prosperous future. The interim government has a rare chance to leave behind a legacy of sustainability, setting the foundation for future administrations to build upon. Through bold policies, innovation, and inclusive development, Bangladesh can become a global model for sustainable growth, demonstrating that economic progress and environmental protection can go hand in hand. The decisions made today will shape the country's future trajectory, showing that the green transition is an achievable goal for Bangladesh.

The writer is a seasoned business journalist and anchor specializing in business and economic affairs



LATEST NEWS
MOST READ
Also read
Editor : Iqbal Sobhan Chowdhury
Published by the Editor on behalf of the Observer Ltd. from Globe Printers, 24/A, New Eskaton Road, Ramna, Dhaka.
Editorial, News and Commercial Offices : Aziz Bhaban (2nd floor), 93, Motijheel C/A, Dhaka-1000.
Phone: PABX- 41053001-06; Online: 41053014; Advertisement: 41053012.
E-mail: [email protected], news©dailyobserverbd.com, advertisement©dailyobserverbd.com, For Online Edition: mailobserverbd©gmail.com
🔝
close