Private sector’s involvement in climate finance is an urgent: Saber Hossain

Environment, Forest and Climate Change Minister Saber Hossain Chowdhury on Friday said private sector should be involved in climate finance.

He said private sector is not interested in climate adaptation financing, so incentive should be given to the sector motivating it to invest in adaptation programmes, reports BSS.

The minister made the remarks while addressing a session entitled ‘Ensuring Public and Private Financial Flows Aligned with Environmental Goals to Close the Massive Funding’ at the 6th United Nations Environment Conference being held in Nairobi, Kenya, according to a message received here.

Saber Hossain said Bangladesh formulated a plan for transitioning from the vulnerability stage to resilience and ultimately to prosperity.

“It requires a significant investment, estimated at nearly US$ 80 billion. Bangladesh, with its abundant offshore wind and nature-based solutions, has outlined a plan for climate finance,” he said.

Bangladesh High Commissioner to Kenya Tareque Muhammad, Joint Secretary of the Environment, Forest and Climate Change Ministry Md Abdul Wadud Chowdhury and Third Secretary at Bangladesh High Commission to Kenya Md Sabbir Ahmed, were present, among others.