Peninfo Drsk: Bangladesh and Japan have agreed to sign a memorandum of understanding (MoU) on waste management, carbon trading and climate resilience.
The decision was taken when Environment, Forest and Climate Change Adviser Syeda Rizwana Hasan held a bilateral meeting with Japanese Minister for Environment Keiichiro Asao at the Delegation Office of Japan on the sidelines of the ongoing Conference of Parties-29 (COP29) in Baku, Azerbaijan.
Addressing the meeting, the Advisor Rizwana Hasan highlighted waste management as a pressing issue for Bangladesh, contributing approximately 10% (21.04 million tons of CO2-equivalent) of its total greenhouse gas (GHG) emissions. Dhaka alone generates 6,000 tons of waste daily, 73% of which ends up untreated in landfills, exacerbating methane emissions.
Bangladesh seeks Japan’s support in establishing integrated resource recovery facilities, waste-to-energy plants, and sanitary landfills to achieve its 8% emission reduction target under the Nationally Determined Contribution (NDC).
The meeting underscored the Joint Crediting Mechanism (JCM) as a crucial tool in advancing low-carbon technologies. Since signing the bilateral agreement in 2013, Bangladesh has implemented four JCM projects, including the Southwest transmission grid expansion project, with financial and technical support from Japan and the Asian Development Bank (ADB). Bangladeshi companies benefit from up to 50% subsidies under JCM projects, transferring an equivalent share of carbon credits to Japan. The Advisor called for increased private sector participation in future carbon crediting initiatives.
Bangladesh also seeks Japan’s assistance in meeting its updated NDC targets of reducing 15.12% of CO2 emissions by 2030, conditional on international support. Potential collaboration areas include renewable energy, hydrogen energy, e-mobility, and industrial pollution control. Additionally, Bangladesh’s National Adaptation Plan (NAP) 2023-2050, requiring $230 billion for implementation, offers vast investment opportunities for Japanese stakeholders.
Syeda Rizwana Hasan emphasized Japan’s expertise in environmental reforms and pollution control as a model for Bangladesh’s ongoing industrialization and urbanization. Strengthening institutional capacity through innovative solutions and training programs for the Department of Environment will be pivotal for tackling emerging challenges.
Japan’s Minister of Environment, Keiichiro Asao, remarked, Japan is committed to supporting Bangladesh in addressing environmental challenges through innovation and collaboration. We look forward to scaling up these efforts to meet Bangladesh’s NDC targets and beyond. We are eager to explore new avenues for cooperation. He said all the field of cooperation will be included in MoU.
Editing by Rishan Nasrullah
Peninfo/20.11.24/01.30am