Exciting developments are underway as Minister of Environment, Forest and Climate Change, Saber Hossain Chowdhury, reveals plans to finalize a Memorandum of Understanding (MoU) concerning Article 6, a pivotal component governing carbon markets within the framework of the Paris Agreement. Expected to materialize within two months, this significant agreement signifies a bold step forward in bolstering collaborative efforts between Bangladesh and South Korea in combatting climate change.
Following crucial discussions with South Korean Ambassador to Bangladesh, Park Young-sik, at the Bangladesh Secretariat, Minister Saber shared insights with the media regarding the impending MoU. Highlighting the focus on carbon credit exchange mechanisms and cooperation under the Paris Agreement, the Minister emphasized the importance of engaging the private sector in environmental initiatives and investments, underscoring Bangladesh’s steadfast commitment to achieving Sustainable Development Goals (SDGs), particularly those concerning environmental conservation and climate action.
Discussions also encompassed South Korea’s potential financial contributions to green technology and infrastructure, with a specific emphasis on sustainable practices within Export Processing Zones (EPZs). Recognizing the pivotal role of forests in carbon sequestration, both nations explored collaborative strategies for conservation and management. Additionally, initiatives pertaining to renewable energy adoption, such as solar-powered pumps for sustainable agricultural practices, were deliberated upon, reflecting a shared commitment to leveraging advanced technologies for environmental monitoring and management.
The meeting concluded with a mutual pledge to enhance bilateral cooperation through knowledge exchange, technology transfer, and joint initiatives aimed at mitigating the adverse impacts of climate change, while safeguarding our planet’s invaluable natural resources. Stay tuned for further updates as Bangladesh and South Korea forge ahead in their collective pursuit of environmental sustainability and climate resilience.
