Experts at a programme on Saturday stressed the need for scaling up sustainable finance to accelerate green growth by taking strategic approach in line with multi-stakeholders’ endeavour.
They came up with the suggestion at a conference titled ‘Sustainable Banking and Finance’ organised by Bangladesh Institute of Bank Management (BIBM) at its auditorium in Dhaka.
Md Akhtaruzzaman, director general of BIBM, chaired the programme moderated by Shah Md Ahsan Habib, Professor (Selection Grade), BIBM.
Sharifa Khan, Secretary, Economic Relations Division (ERD), attended the conference as the chief guest while Fazle Kabir, former governor of the central bank and emeritus fellow at BIBM as guest of honour.
The conference financed by Deutsche Gesellschaft für international Zusammenarbeit (GIZ) on behalf of the German Federal Government under the project titled ‘Improved Coordination of International Climate Finance (ICICF).
Sharifa Khan said, “Asian Infrastructure Investment Bank (AIIB) declared that 50 per cent of their financing will be climate financing, so we must address the climate issue and think more about green financing.”
“Everybody now face challenges and we could not oversee climate change vulnerabilities and to overcome it we need country specific solution. So at this stage everybody should understand that we need green financing,” she added.
Eleven banks and financial institutions got award from BIBM to incorporate green financing.
Fazle Kabir said, “I appreciate the top management because it is not an interesting area to invest because return of investment is too poor.”
“Sustainable finance plays a crucial role to supporting sustainable development. In developing countries it encompasses various financial mechanisms, investments and practices that aim to generate economic growth while also promoting environmental and social sustainability,” he added.
