Bangladesh Bank governor Atiur Rahman addresses a Green Bankers’ Conference in Dhaka on Tuesday. 

Bangladesh Bank governor Atiur Rahman on Tuesday asked scheduled banks and non-bank financial institutions not to finance any project which will put an adverse impact on environment.
The banks and the NBFIs should strengthen their green financing to ensure the country’s sustainable development, he said at a Green Bankers’ Conference organised by the central bank at Bangladesh Bank Training Academy in the capital.
‘The country achieved on an average six per cent GDP growth in the recent years which has already extended the economic activities. It is high time to ensure green financing along with the economic activities in the greater interest of inclusive growth’, he said.
The financial sector accelerates global climate change and environmental degradation through their ‘financed emissions’ i.e. the greenhouse gas emissions induced by their loan facility, he said.
Nowadays the green bankers know that the financial sector has a pivotal role to play in de-carbonizing the economy and reducing global emissions of greenhouse gases at the required pace and scale.
Green technology may be an effective way to improve resource efficiency and coordinating the different processes responsible for green growth, the BB governor said.
To foster the development of green technology, appropriate financing mechanism should be adopted by the banks and financial intermediaries, he said.
Widespread implementation of green initiatives and energy saving technologies can facilitate Bangladesh to cleanse its environment, but access to finance is vital for the successful implementation of green initiatives, the BB governor said.
This is high time for the banks and financial institutions to move forward with research and development which are indispensable for exploring appropriate technologies and techniques and new green products, Atiur said.
BB deputy governor SK Sur Chowdhury said that the BB had already formulated a number of regulations and policies to promote the green financing in the business sector.
He said, ‘It is important to ensure the sustainable economic development for inclusive growth. So, the banks and the NBFIs will have to increase their green financing which will ensure the green economy.’
Dhaka University professor Saiful Huque said that the banks and the NBFIs should finance to invent environment-friendly technology.
‘Our goal is to save the people and the country. The goal will be ensured if we can protect our environment’, he said.
IFC Bangladesh country manager Kyle Kelhofer and BB executive director Ataur Rahman, among others, addressed at the first session of the conference.