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[🇧🇩] Save the Rivers/Forests/Hills-----Save the Environment

G Bangladesh Defense
[🇧🇩] Save the Rivers/Forests/Hills-----Save the Environment
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Adaptation to combat climate change
Musharraf Tansen 25 November, 2024, 00:00

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An aerial photograph shows flooded houses in Feni in August. | Agence France-Presse/Munir uz Zaman

COP29 in Baku, Azerbaijan, brought the world’s attention once again to strategies to address the climate crisis. While reducing emissions (mitigation) remains essential, it has become increasingly clear that even with significant global efforts, the consequences of climate change are here to stay. Rising sea levels, erratic weather patterns, and increasing natural disasters are now a reality, especially for climate-vulnerable nations like Bangladesh. This year’s discussions at COP29 underscore the importance of adaptation as an urgent, essential counterpart to mitigation. Bangladesh stands as a prime example of a country that must invest in adaptation to safeguard its communities, economy, and ecosystems.

Understanding adaptation

ADAPTATION in the context of climate action refers to adjusting our systems, infrastructure, and ways of life to endure and thrive amid climate impacts. While mitigation aims to reduce future risks by lowering greenhouse gases, adaptation accepts that certain consequences are already irreversible and require immediate action. Bangladesh, with its low-lying geography and high population density, is uniquely vulnerable to these impacts. Rising sea levels threaten to inundate vast areas of the country, cyclones regularly devastate coastal communities, and changing rainfall patterns disrupt agriculture. Adaptation, therefore, is not a secondary solution for Bangladesh; it is an existential necessity.

The 2020 Global Adaptation Report suggests that every dollar invested in adaptation could yield a fourfold return in avoided losses, improved productivity, and social and environmental benefits. For Bangladesh, this means that adaptation efforts are not just protective measures but pathways to sustainable development that could lift millions out of poverty and build resilience against future climate impacts.

Urgent need for adaptation in Bangladesh

BANGLADESH’S vulnerability to climate change is no longer theoretical. According to the Intergovernmental Panel on Climate Change, the world could surpass the critical 1.5°C warming threshold within the next decade if the current pace of emissions continues. For Bangladesh, which is ranked among the world’s most climate-vulnerable countries, this reality translates into immediate challenges. Rising sea levels threaten to displace millions, with coastal divisions like Khulna and Barisal already experiencing increased flooding. Riverine communities are at constant risk of erosion, and droughts and erratic monsoon patterns put agricultural productivity in jeopardy.

The agricultural sector, on which a significant portion of Bangladesh’s population depends, is particularly affected by unpredictable weather patterns and extreme temperatures. With over 70 per cent of Bangladeshis relying on agriculture for their livelihoods, adapting farming practices is crucial to ensure food security. Climate-resilient crop varieties, improved irrigation systems, and agroforestry are among the adaptation strategies that could help protect Bangladeshi farmers from these growing threats.

Key adaptation strategies for Bangladesh

Climate-resilient infrastructure:
Infrastructure that can withstand climate impacts is urgently needed across Bangladesh, especially in urban areas like Dhaka, Chattogram, and Khulna. Flood defences, storm-resistant homes, and drainage systems are essential in areas prone to flooding and cyclones. Bangladesh has already taken steps to develop flood-resistant infrastructure, but the scale and intensity of climate impacts demand even more robust planning and investment.

Enhanced water management: Bangladesh’s water challenges are multifaceted — coastal regions face saltwater intrusion from rising seas, while northern regions suffer from droughts. Rainwater harvesting, desalination, and improved water storage systems are critical for areas where fresh water is becoming scarce. By strengthening water management practices, Bangladesh can mitigate some of the worst impacts of climate change on water resources.

Resilient agriculture and food security: The adaptation of agriculture is essential for Bangladesh to feed its population in the face of climate change. Drought-tolerant and salt-resistant crop varieties are being introduced, but more support for climate-smart agriculture is necessary to ensure that small-scale farmers can maintain productivity even as conditions worsen. Additionally, initiatives to promote crop diversification and sustainable land management can help farmers reduce their vulnerability to climate-induced shocks.

Ecosystem restoration and protection: Natural ecosystems, including the Sunderbans mangrove forest, serve as crucial buffers against climate impacts such as storm surges and floods. The Sunderbans, shared with India, is a UNESCO World Heritage site and home to unique biodiversity, including the endangered Bengal tiger. Protecting and restoring ecosystems like the Sundarbans can provide significant climate resilience, as these natural barriers absorb floodwaters, prevent erosion, and act as carbon sinks.

Locally-led adaptation initiatives: Locally-led adaptation is essential in a diverse country like Bangladesh, where local knowledge can guide effective climate responses. Bangladesh’s coastal communities, for instance, have long relied on traditional knowledge to predict and respond to changes in weather patterns. By empowering communities to take an active role in climate adaptation — through education, skills training, and local governance — Bangladesh can tailor solutions to the unique challenges faced by different regions.

Financing adaptation

DESPITE the clear need for adaptation, financing remains a significant barrier. While international climate finance has historically prioritised mitigation, adaptation in vulnerable countries like Bangladesh continues to face severe funding gaps. COP29 discussions underscored the need for a fairer distribution of climate finance, with developed countries committing to greater support for adaptation in developing nations. In recent years, Bangladesh has advocated strongly for increased climate finance to support its adaptation efforts, yet the scale of funding remains insufficient given the risks the country faces.

The government of Bangladesh has made significant strides, such as setting up the Bangladesh Climate Change Trust Fund to support adaptation and resilience-building projects. However, private sector involvement is essential to bridge the financing gap. Partnerships with businesses and international organisations can drive investment into adaptation projects, from green bonds to public-private ventures in sustainable infrastructure. Additionally, the insurance sector can offer climate risk insurance tailored to the needs of farmers and small businesses, providing a financial safety net that incentivises adaptive practices.

Adaptation and sustainable development

FOR Bangladesh, adaptation is more than just a response to climate threats; it is an opportunity to pursue sustainable development. Many adaptation strategies align with the United Nations’ Sustainable Development Goals, including those related to poverty alleviation, food security, and clean water access. By investing in adaptation, Bangladesh can build a resilient society capable of withstanding environmental changes while simultaneously fostering economic and social growth.

For instance, green urban planning in cities like Dhaka, which integrates green spaces and sustainable transport, not only mitigates heatwaves and flooding but also reduces pollution, improves public health, and enhances overall quality of life. Adaptation offers co-benefits that go beyond climate resilience, setting the foundation for an inclusive and sustainable future for Bangladesh.

Global solidarity and responsibility

COP29 has reinforced that adaptation is not just a national issue for Bangladesh but a global necessity. Wealthier nations bear a responsibility to support countries like Bangladesh in building adaptive capacity. Investing in climate adaptation is not just the right thing to do but is also the economically smart thing to do. Wealthier nations must uphold their responsibility to support climate-vulnerable countries by delivering on pledges for adaptation finance. Adaptation, beyond merely building resilience, is essential for securing lives, food supplies, and stability amid a rapidly changing climate. Wealthy countries must share technology, mobilise financial resources, and transfer expertise to help vulnerable nations develop climate-resilient infrastructure and strategies. In addition, we should demand more direct funding for local adaptation initiatives, where climate impacts are most severely felt.

Moreover, the private sector, government agencies, NGOs, and local communities must collaborate to scale up adaptation efforts and ensure that no one is left behind. The climate crisis transcends borders; heatwaves, floods, and droughts in one region have global ripple effects on food security, migration, and health. Only by embracing adaptation as a universal priority can the world hope to navigate the climate challenges that lie ahead.

Balanced climate agenda for Bangladesh

THE realities of climate change demand that Bangladesh approach adaptation and mitigation hand in hand. While reducing emissions remains critical, preparing Bangladeshi communities to handle the impacts already underway is equally vital. COP discussions have highlighted that adaptation is not a fallback option but a cornerstone of a comprehensive climate response.

In a world where climate impacts are increasingly immediate, adaptation offers Bangladesh a path towards resilience, stability, and equity. Bangladesh has a unique opportunity to champion adaptation as a key component of climate action — one that protects its people, preserves its natural resources, and paves the way for a sustainable future for generations to come.

Musharraf Tansen is a development analyst and former Bangladesh representative of Malala Fund.​
 

Innovative tool for climate finance: the case of blended finance
Mohammad Abu Yusuf
Published :
Nov 25, 2024 23:51
Updated :
Nov 26, 2024 00:06

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Climate change is the most widely discussed topic at the moment. An overwhelming majority of people around the world are concerned about climate change. Given the critical situation of climate change for humanity, UN experts called on States at the 29th meeting of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) in Baku, Azerbaijan, to prioritise the protection of human rights with truly ambitious climate action plan to 2030, and agree to sufficient, transparent and legitimate funding. The slow onset events of climate change such as sea level rise, increased temperature and extreme events exemplified by more frequent and intense drought, severe heat waves, more severe storms, increased precipitation, and flash flood result in related losses and damages to nature and people. Other consequences of rising global temperatures include massive crop and fishery collapse, and the disappearance of hundreds of thousands of species. Climate induced displacement and relocation/migration of people emerged as a havoc for the affected people. More than 20 million people a year are forced to leave their homes by climate change.

The adverse impacts of the climate change can be addressed to some extent through different adaptation measures. Implementation of these measures need significant financial resources to adapt to the adverse effects and reduce the same. The United Nations Environment Programme estimates that adapting to climate change and coping with damages will cost developing countries $140-300 billion per year by 2030. Climate finance is also needed for mitigation. The Adaptation Gap Report 2023 estimates that due to growing adaptation finance needs and limited flows, globally the current finance gap is around US$194-366 billion per year for adaptation only. The sources of climate finance are mainly budgetary allocations of the states, international climate funds, multilateral development banks (MDBs), bilateral funds, and philanthropic organisations. However, these sources are not enough to fund the huge climate finance need for Bangladesh

As the 7th most climate change vulnerable country according to the Global Climate Risk Index (CRI) 2021, Bangladesh has a considerable need for climate finance. The National Adaptation Plan (NAP) 2022 of Bangladesh estimates it will need around $230 billion for the period 2023-2050 (which is about US$ 8 billion per year) as new and additional financing requirements for the implementation of the NAP. The country currently spends $1.2 billion annually. Bangladesh thus faces a $7.3 billion climate adaptation funding gap annually. The actual financing gap would be higher if the financing needs to implement the committed reduction of GHG emission made in the Bangladesh’s Nationally Determined Contributions (NDCs) 2021 are taken into account. The full implementation of the proposed mitigation actions identified in the NDCs will require about USD 175 billion within 2030. Only a small part of the total estimated climate finance need could be filled in from budgetary allocations. Climate finance flows from international climate funds, MDBs, bilateral and philanthropic sources to Bangladesh are also very meagre. As for instance, Bangladesh has received US$ 174 million in grants and US$ 290 million in loans from GCF for implementing 8 projects till date. In addition, so far, Bangladesh has received US$ 34.41 million from the Least Developed Countries Fund (LDCF).

Although Bangladesh is one of the least emitters of GHG (0.47 per cent of total global emission), it is serious victim of climate change. Since Bangladesh is particularly vulnerable to the adverse effects of climate change, and has capacity constraints as a least developed country, it can rightfully demand grant-based resources for adaptation from global sources as per Article 9.4 of the Paris Agreement. The reality is— Bangladesh has to accept loan with grants money for climate cause.

The large climate financing gap and the limited capacity of the public sector as stated earlier calls for leveraging private capital in the climate change space. But bringing in private climate finance is not simple, as private sector will be looking for bankable projects where they can earn financial returns. The private investors also have a perception of high risks in emerging markets that discourage them to invest. Climate Adaptation projects, in particular, are not considered bankable as these projects do not generate returns for private financiers for the risks they involve. Development of innovative financing tools such as blended finance can be a tool to encourage private investment. Blended Finance as a term was launched in 2017 at the Adis Ababa Innovative Finance Summit.

Blended finance, by combining public, private, grants, concessional and philanthropic finances to mobilise larger sums of capital, de-risks investments in climate projects and thus support generate more climate finance. Public institutions, multilateral development banks, climate funds, philanthropies and other organisations without profit motive can de-risk private investment by assuming first-mover and longer-term risks. Development financial institutions (DFIs) and MDBs, by providing grants, first take losses to leverage private finance. They also provide capital at concessional rates to reduce risks for private providers. As for instance, the World Bank signed $46m agreement with the Uzbekistan government to motivate energy efficiency. Under the project, the bank will purchase between 2 and 2.5 million tons of CO2 reductions. Institutional investors could also be a more relied-upon source of debt capital to climate blended finance. The UNCTAD notes that bringing institutional investors into project finance can lower debt spreads by about 8%, almost as much as securing a DFI/MDB.

A number of blended finance instruments can be leveraged to generate climate finance from private sources. These instruments include catalytic first-loss capital (CFLC) such as equity, grants, guarantees and subordinated debt. It is catalytic because, by improving the recipient’s (investors who receive protection from other investors) risk-return profile, CFLC catalyses the participation of investors that otherwise would not have participated.

For blended finance to be able to raise meaningful amount of private capital, first-loss-equity is a vital option. It gives comfort to investors in emerging markets as first-loss concept de-risks investment in early-stage companies. The investor/grant-maker, in this case agrees to take first-loss or subordinated position in an investment in order to catalyse the participation of co-investors that otherwise would not have entered the deal.

Blended finance structure the financial instruments such as grants, guarantees, debt and equity in innovative ways to reduce risk, advance social and environmental objectives thus catalyse private/commercial capital for climate or impact investment. The following example illustrates how blended financing instrument (in this case CFLC) uses innovative financial structure to increase private sector (commercial) appetite for climate cause or impact investment.

Example: An impact fund of Tk. 132.5 million was created by a composition of debt and grants. The debt structure in the fund has three layers: Tk 100 million in senior debt, contributed by private capital investors (five banks and an insurance company); Tk. 25 million in subordinated debt, provided by five mission-driven investors; and Tk. 7.5 million in first-loss capital (this is ‘loan loss reserve’) in the form of grants from three foundations (providers). This reserve serves as a first stop-loss for any individual transaction. If there is a loan default, the loss reserve absorbs the full loss related to the loan.

Each loan made from the credit facility is composed of 75 per cent from the senior tranche and 25 per cent from the subordinated tranche. In the event of a loss, the CFLC fund can be accessed only to make the senior investors whole (no amount for the junior lenders). In theory, if there is a large loss in one transaction, then the full Tk. 7.5 million can be drawn down in one instance. Alternatively, it could cover numerous small losses until the full amount of CFLC (i.e., Tk. 7.5 million) is exhausted. Losses exceeding the $7.5 million loan loss reserve would be absorbed by the subordinate investors. In this case, it is evident that there is a mechanism of first-loss capital (created out of ‘grant’ money) that acts as a cushion for private sectors to come forward to put their money into such innovative arrangement of blended finance. The significance of blended finance had been recognised in COP 29: “Blended finance is key to mobilising private capital for climate-related projects. It reduces investment risks, attracts new technologies, and ultimately speeds up the shift to a green economy. The issuance of UniBank’s first green bonds in Baku is a compelling example of this trend…”

Attracting funds from both the global climate funds and the private sector are critical in closing the adaptation finance gap. An appreciative mindset that cares for humanity, planet, and sustainability will surely promote blended finance concept to mitigate risks by the public sector or impact investors in a way that allows the private capital to make impact investment for climate cause.

Mohammad Abu Yusuf is an Additional Secretary in the Finance Division, Ministry of Finance, Government of Bangladesh.​
 

The unresolved question of 'non-economic’ loss and damage

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Can prehistoric sites like the Gobustan State Historical and Cultural Reserve in Baku, Azerbaijan survive climate change? PHOTO: PAVEL PARTHA

Some 64 kilometres southwest of Azerbaijan's capital, Baku, is the Gobustan State Historical and Cultural Reserve. After the first week of the Baku Climate Conference, the 29th Conference of the Parties (COP), we had the opportunity to visit these relics of our ancestors.

As I observed the stone-carved cavities in Gobustan, I wondered what Stone Age humans might have stored in them—perhaps meat, fruits, herbs, or seeds.

Cooking rice was not yet part of civilisation, as rice had not been discovered; only later domesticated by Homo sapiens. Over time, wild rice was tamed, but the "Green Revolution project" transformed agriculture into a profit-driven industry, eradicating the diversity of traditional rice and other crop genetic resources.

In parallel, the discourse on climate change adaptation and payment for loss and damage is growing, with the Global South advocating for an Adaptation Fund and a Loss and Damage (L&D) Fund. Yet, L&D negotiations largely focus on economic losses, leaving non-economic loss and damage underrepresented in the global climate negotiations.

On our way back from Gobustan, I wondered: could we ever put a price tag on these priceless remnants? If these artefacts were to be lost to a volcanic eruption or another climate-induced disaster, the losses would fall under what we describe as the category of non-economic loss and damage in climate discourse.

The Baku Climate Conference, dubbed the "Finance COP," focused more on promoting carbon credits and false solutions than addressing people-led adaptation and loss and damage. The unresolved, irreversible impacts of climate change continue to grow. Disasters like cyclones, droughts, floods, and heatwaves not only cause economic losses but also destroy traditional knowledge, rituals and even rare species. Can humanity survive without these non-economic, intangible cultural heritages? Acknowledging and incorporating these losses into global climate action is not just necessary—it's urgent for conserving the essence of human existence.

The issue of "Loss and Damage" due to climate change gained prominence through small island nations (Small Island Developing States/SIDS and Alliance of Small Island States/AOSIS) initially focusing on economic impacts. However, Indigenous Peoples and Local Communities (IPLC) shifted the discussion towards non-economic loss and damage (NELD), a concept often overlooked. Based on the UNFCCC's report (2013) on Non-economic losses in the context of the work programme on loss and damage' refers to losses not traded in markets—loss of life, health, human mobility, loss of territory, cultural heritage, Indigenous local knowledge and social capital, biodiversity and ecosystem service. Measuring these losses is challenging as they lack a market value, yet they are integral to human civilisation.

Following the Paris Agreement, a 2019 report identified key sectors for assessing NELD, and the "Santiago Network" was established to support developing nations. The Intergovernmental Panel on Climate Change (IPCC) Sixth Assessment Report included NELD examples, such as loss of life and ecosystems. NELD's scope varies across different cultures, ecosystems, and communities, shaped by diverse social, cultural, and historical contexts. This article presents examples of NELD caused by climatic stress from various eco-regions of global countries including Bangladesh to illustrate the broader concept.

Lost rain, lost rituals

The Huni Kui people, who reside in the Brazilian and Peruvian parts of the Amazon, believe that after death, humans are reborn as trees in the forest, according to Ninawa Inu Huni Kui, leader of the Huni Kui. To them, every plant and tree is sacred. The Mukaya (shamans or healers) venture deep into the forest to collect flowers, leaves, and roots used in herbal medicine and various rituals.

Due to irregular rainfall and rising temperatures, many plants are going to be extinct in the Amazon. Ninawa's account parallels the experiences of the Indigenous Tripura community in Bangladesh's Rema-Kalenga forest. The Tripura believe the KuthuiRuganiKhlum plant guides dead's souls to heaven, but prolonged droughts have made this sacred plant harder to find.

In the Bengali Hindu tradition, 108 lotus flowers are essential for Sharadiya Durga Puja. From 2022 to 2024, excessive rainfall during the flowering season destroyed many blooms in wetlands. While some devotees managed to acquire lotus flowers at high prices, a very few could gather the full 108 required for rituals.

New diseases, new concerns

Climate change is also linked to diseases like dengue, chikungunya, cholera, and malaria, which bring new challenges and fears. Caroline Naeku Lemachakoti, an Indigenous activist from the Samburu community in Nigari village of Kenya, reported that prolonged droughts are increasing the spread of a camel disease called Nadopapita.

Meanwhile, Shahin Alam, a youth climate activist from Bangladesh's Sundarbans, highlighted that intrusion of salinity is causing complex reproductive health issues among women in coastal villages. Irregular rainfall and rising temperatures are also damaging betel leaf plantations in the Khasi Indigenous community of Sylhet in Bangladesh, leading to a rise in the Uttram disease of betel leaf garden.

Erosion of genetic resources and biodiversity

In Sherpur of Bangladesh, the floods during August-September this year, submerged rice fields, including those growing the indigenous Tulshimala variety, a crop with Geographical Indication (GI) status. Rukasen Beypi, a climate activist from India's Assam, highlighted a similar plight among the Karbi Indigenous people, whose traditional crops are rapidly vanishing. Droughts have made finding two wild banana varieties, Lorup and Lochin, increasingly difficult.

Bolivian food rights activist Aira Roja Condori, who also participated in last year's climate summit in Dubai, recalled the loss of wild potato varieties due to droughts and water scarcity—a grim story she reiterated this year. Meanwhile, U Khing Nu Chak, a youth climate activist from the Indigenous Chak community of Naikhongchhari in Bangladesh's Bandarban, shared her Grandmother Janingme Chak's memories of colourful maize varieties that once flourished in their mountain villages. These varieties are now disappearing, driven by drought, water shortages, and rising temperatures. Leodegario Velayo and Rowena Buena the farmer-scientists from Philippines told that, they are trying to conserve the traditional climate resilient varieties.

Alien territories, new conflicts

Cyclones, floods, droughts, and rising temperatures are increasingly displacing both humans and wildlife, forcing migration in Bangladesh's Satkhira and Netrokona regions. Young people, particularly women, are seeking jobs outside their villages due to the loss of agricultural land and employment opportunities. Unlike cultural migration, this displacement forces people to leave behind everything they've known: villages, ancestral graves, temples, and communities.

Makereta Waqavonovono from Fiji shared how frequent tidal surges displace her community, a situation mirrored by those affected by riverbank erosion in Bangladesh's Meghna, Jamuna, and Brahmaputra basins. Women and children, as highlighted by Chathurika Sewwandi of Sri Lanka's Vikalpani National Women's Federation, face increased violence and insecurity in these situations. The emotional toll of leaving one's birthplace is immense, and adapting to new settlements often leads to social, cultural, and environmental conflicts.

Indigenous knowledge, beliefs and new doubts

The devastating floods in Sunamganj and Sylhet in Bangladesh in 2022 not only led to loss of life and property but also wiped out many Dhamail songs, a cultural heritage of the Haor region. Women in these areas have their Dhamail songs written in songbooks, which were submerged and lost in the floods. Thus, climate change is causing the daily disappearance of numerous songs, languages, Indigenous knowledge, and cultural expressions around the world. Traditional practices related to weaving, agriculture, local adaptations, rural architecture, culinary arts, herbal medicine, and disaster management are all critically endangered due to climate change.

In the hills of Bandarban, only six speakers of the Rengmitcha language remain. The scarcity of water and land crisis is exacerbating the survival challenge of Indigenous communities. When the last speaker of the Sare language from India's Andaman-Nicobar Islands passed away during the first wave of the Covid pandemic, the language went extinct.

Stephanie Stephens, a representative from Vanuatu's Ministry of Climate Change, explained that as coastal villages are submerged by tidal surges, people are being forced to move to mountain areas. In these new regions, the medicinal plants they once relied on are no longer available, leading to the erosion of indigenous knowledge about herbs and healing.

Non-economic loss and damage, human rights, and political commitments

While Bangladesh has made strides in disaster management and adaptation, it has yet to fully address NELD. There is an urgent need for policies and management frameworks in this area. Although Bangladesh presented a national L&D assessment framework at the Baku Conference, NELD must be explicitly integrated. This requires the consent of all regions and communities, along with coordinated research on the impacts of NELD on ecosystems and people.

In climate finance negotiations, countries must include NELD in their Nationally Determined Contributions (NDC), National Adaptation Plan (NAP), and National Biodiversity Strategic Action Plan (NBSAP) to ensure that NELD are addressed in both national and international climate policies. After undue delays and false oaths, the global leaders at the Baku conference agreed to climate finance $300 billion per year. Strong commitment and concrete climate actions are now needed to address the global NELD.

Pavel Partha, an ecology and biodiversity conservation researcher, is director at Bangladesh Resource Centre for Indigenous Knowledge (BARCIK).​
 

Efficient management and recycling of textile waste
Wasi Ahmed
Published :
Nov 27, 2024 00:48
Updated :
Nov 27, 2024 00:48

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The challenge of managing textile waste has long been a pressing issue, both from an environmental and socio-economic perspective. In Bangladesh, the handling of textile waste, locally known as jhut, remains largely informal and disorganised. This unregulated approach has created a hydra-headed problem over the years, posing significant environmental, social, and economic risks. The informal nature of the jhut trade not only hampers sustainable practices but has also led to frequent conflict and clashes between stakeholders, disrupting the country's Ready-Made Garments (RMG) sector. The economic and political nexus has its internecine feuds, and despite efforts to remove tension, there has not been any sign of relief, so far. Clearly, it is the absence of formalising the business that mainly accounts for the conflict and wrangling.

A recent discussion meeting in Dhaka brought renewed attention to the importance of formalising Bangladesh's textile waste management system. Organised under the "SWITCH to Circular Economy Value Chains" project-co-funded by the European Union (EU) and the Finnish government and led by the United Nations Industrial Development Organisation (UNIDO)-the event emphasised aligning the country's waste management practices with the EU's sustainable product regulations.

Experts at the event highlighted that transitioning to a circular economy is not just about environmental responsibility but also an opportunity to create millions of jobs in recycling and reducing the country's dependence on raw material imports. A formal policy framework for jhut management could address the unrest in the RMG sector by fostering better coordination among stakeholders, manufacturers, waste management companies, and global brands.

As the second-largest garment exporter globally, Bangladesh faces an enormous challenge in managing its growing textile waste. Much of this waste is either incinerated or dumped in landfills, causing significant environmental harm. These practices result in wasted resources, pollution, and a missed opportunity to harness the economic value of textile waste through recycling and upcycling. Experts argue that a comprehensive recycling system could reduce environmental degradation while contributing to the country's economy. Turning waste into reusable materials can drive sustainability and promote a circular approach within the textile industry.

The circular approach offers a promising solution by closing the loops in the production process. This involves transforming waste into resources for future manufacturing. With proper infrastructure for waste collection, sorting, and advanced recycling technologies, Bangladesh can lower its environmental footprint and foster growth in green industries. Investing in recycling technology and infrastructure could also position Bangladesh as a leader in textile recycling. Collaboration among the government, manufacturers, and waste processors is essential to create a robust ecosystem for sustainable production and waste management.

Speaking at the event, Deputy Head of the EU Delegation to Bangladesh, Bernd Spanier, underscored the urgency of transitioning to circular production. He noted that the next five years are critical for Bangladesh's garment industry to meet the EU's emerging standards under its Strategy for Sustainable and Circular Textiles. This framework aims to ensure that textiles entering the EU market by 2030 are made from recycled fibers, free of hazardous substances, and produced in an environmentally and socially responsible manner. He also highlighted gaps in Bangladesh's current policies, such as the National Environmental Policy, Solid Waste Management Rules, and the Bangladesh Labour Act, which are not fully aligned with international standards for circular textile manufacturing. Without supportive policies, countries like Vietnam and Indonesia are emerging as preferred destinations for recycling industries.

Formalising the textile waste management system could unlock substantial economic benefits. According to experts, this transition could help Bangladesh remain competitive in the global garment market, especially as international buyers increasingly prioritise sustainability. Furthermore, recycling and waste management offer an avenue for economic diversification. By investing in circularity, the country can develop a thriving recycling industry that generates value from waste while mitigating its environmental impact.​
 
A shikh saint Revive a river. Report.

Kali Bein, Kar Sewa Restores the Historic River​



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Kali Bein At Sultanpur Lodhi
The Kali Bein also known as the Kali Beiri, a river in the Hoshiarpur district of Punjab, which holds a very sacred part in every Sikh's heart, has been given a new life by a more than 6 year long effort begun by Sant Balbir Singh Sancherwal in 2000.

By drawing on the Sikh tradition of kar sewa (free voluntary service) and Daswandh (common donation of 10%), he and his followers taught locals people why they should clean the Kali Bein, enlisting volunteers to do the physical work and raising funds for equipment. At the height of his movement, people from more than two dozen villages were pitching in.

The scale of the task was gigantic — volunteers cleared the entire riverbed of water hyacinth and silt, and built riverbanks and roads alongside the river. When appeals to government and municipal bodies failed to stop dirty water flowing into the river, Seechewal launched a public-awareness campaign to encourage villagers to dispose of their sewage elsewhere.

Some villages revived traditional methods of waste disposal and treatment, and farmers lined up for a share of the treated water. A government order to divert water from a nearby canal was eventually obtained. As the riverbed was cleared, natural springs revived and the river began to fill up. Since then, trees have been planted along its banks and fishing has been banned to preserve biodiversity.

Contents​

A Shocking Disappearance​

Guru Nanak performed his morning ablutions in thi Bein and would then set by a "bear" tree he had planted and meditate. Guru ji meditated here for 14 years, nine months and 13 days. It was during one such ablution that Guru Nanak had what is described, in the Janam Sakhis, as a direct communion with the Divine. Five centuries ago as Guru Nanak went for his daily bath in the rivulet he disappeared. His friends and followers feared he had drown, his detractors started rumours that he had robbed his employer's stores and run away.

Two days later when he reappeared 2 km upstream, at a spot now known as "Sant Ghat", his first utterance was “Naa ko Hindu na Musalmaan” - "There is no Hindu, there is no Musalman". It was here along the Kali Bein that Guruji composed the Japji Sahib (containing the Mool Mantar) and from here that he undertook his first two Udasis (religious journeys).

All of this happened on the banks of the river where Gurdwara Ber Sahib now stands by the side of the old ber tree believed to be the same tree under which Guru ji sat in meditation at Sultanpur Lodhi. This Gurdwara was built as a tribute to the father of Sikhi who with his family and Sister Bebe Nanaki Ji lived here for nearly 14 years.

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Some History​


With their hands Sancherwal and others labour to restore the Kali Bein
  • The 160-km-long river springs from the land around Dhanao village in the Hushiarpur district of the Punjab. Their the minerals that seep into the river have lent the river its name as they cause the river to give a black reflection in the viewers eye.
  • In the Glory days of Emperor Akbar, who was more concerned with beauty than with forcing Islam on his subjects, some stretches of the rivulet's upper banks were lined with bricks and planted with beds of flowers, bushes and trees along its sides making it a place of beauty.
  • Once the river merged in the confluence of the Beas and the Ravi, but the Beas changed its bed and the Kali Bein fell on hard times.

400 Hundred years of Public Neglect and Indifference​


Industrial Machinery added to the efforts
  • In the rainy season public indifference had allowed it to became a cesspool with village, city and industrial wastes from even a railway factory in Kapurthala filling it and clogging its once beautiful black waters with masses of ugly weeds and sewage.
That’s when Sant Sichewal (also spelled Sancherwal, Sabarwahl and Sant Balbir Singh Seechewal) jumped in for a cleansing bath of a different kind: one designed to awaken the people. He began cleaning the river single handedly until his example and his many narrations on the history and value of the Bein to Sikh history drew hundreds of followers to the task.

Through kar seva he and thousands have in a labour of love of untold hours cleaned the river. These efforts were noticed and now even governments along the way have jumped into the effort and now even weed technology-based ponds are being introduced in many out of 64 villages across the Bein's length to allow villagers to treat water before releasing it into the rivulet. Additionally sewage treatment plants for major cities along the way are being planned. The two crore plant in Sultanpur Lodhi is ready, the one in Kapurthala, an Rs 10 crore project, is in final stages. And plants will soon be set up at Tanda, Begowal and other industrial towns along the length of the Bein.

Situation Today​


Sant Sancherwal alongside the Beautiful Kali Bein
Today, the river’s banks have been raised, inflows of waste, plugged, the river-bed desilted and flowering plants, once again, align its length. The Kali Bein is once again clear and flowing!

UNI reports that, in the next few months President Kalam is to visit the river to honour Sant Sancherwal.

Up date from News reports:

In a recent headline, The Indian president, on a visit to Greece has praised a Sikh Saint for cleaning an entire river with sewa (voluntary service).Kalam hails Sikh priest’s work
While on a trip to Greece , President A P J Abdul Kalam praised the work of a Sikh priest in Punjab who had cleaned up a “polluted and choked” local river to illustrate how the art of “giving” by individuals and nations could promote happiness around the world.



Recent history of the river​

Apart from the Kali Bein having a holy connection with Guru Nanak Dev, it is the lifeline of the Doaba region of Punjab. Thanks to the rapid growth of population and urbanisation over the decades, it had become utterly polluted. Sant Balbir Singh Seechewal launched his kar sewa in July 2000, to revive the dying river.

Although a small river, the Kali Bein, with the sewage of 43 villages and towns, apart from the effluents of many factories turning it into a weed-choked dirty drain, shares its miserable plight with most of our bigger rivers. A thick layer of silt has settled over its bed, blocking its pores that could help recharge the water table.

As a result, two districts of the Doaba region suffered in their own different ways. While a vast tract of land in Mukerian tehsil of Hoshiarpur became water-logged, almost the whole of Bhulath and Sultanpur Lodhi tehsils of Kapurthala district underwent a fast depletion of the water table.

Water that seeped underground contaminated the ground water and set in an unending process of slow poisoning of the people whose lives largely depended on it.

The four phases​

During the first phase of the kar sewa of the Holy Bein (2000-2003), the river was cleared of water hyacinth and silt at the historical town of Sultanpur Lodhi. Both its banks were raised and lined with boulders to build beautiful bathing ghats. Bricked roads along the banks were prepared and beautified with decorative and fruit trees. Water supply, sewerage and power supply systems were installed.

In the second phase, hyacinth and silt were cleared out of the Kali Bein from Dhanoa in Hoshiarpur district to Kanjali in Kapurthala district, and a kutcha road was prepared from Dhanoa to Kanjali, measuring about 110 kilometres along the Bein.

In the third phase (2004-05) the kar sewa was resumed at Sultanpur Lodhi to the West of Talwandi bridge, removing hyacinth and silt from the bed of the Bein. Work was also extended to the residential area of Sultanpur Lodhi, installing sewerage systems.

In the fourth phase (2006-07), the kar sewa entered a new stage, which surprised many. Sant Seechewal saw that if the river is de-silted from Harike upward to Sultanpur Lodhi, then it was easy to bring the Beas water upward. This plan was realised with the cooperation of the people of the Mand area.

The President of India visits the river and completion​

On 17August 2006, President of India, A.P.J. Abdul Kalam came to visit the Kali Bein at Sultanpur Lodhi .

During the current phase, (2006 to 2008), the kar sewa has acquired still newer dimensions. In order to restore the purity of the Holy Bein permanently, alternative arrangements for sewage are being made. Treated sewage is being supplied through pipelines for irrigation of crops.

The kar sewa has opened new economic vistas for the people of Punjab. Water flow has been restored. About 6000 acres of water-logged land in Hoshiarpur have been reclaimed. In Kapurthala, 1,35,000 hectares of land have been saved from depletion of the water table. The roads along the banks have brought people and places closer and paved the way for faster development.

Sant Balbir Singh Seechewal and his kar sewak followers have proved that collective efforts can work wonders.
Bhai Mohinder Singh, GNNSJ Birmingham,UK
NRI, Bhai Mohinder Singh of Guru Nanak Nishkam Sewak Jatha, UK, had donated Rs 60 lakh for purchasing a big crane machine to clean the Bein.

Baba Balbir Singh Seechewal, who has taken up the task of cleaning Bein river. He conducted meetings with NRIs in UK during his 20-day visit over the issue.

The villagers want to construct a gurdwara at the place and they are maintaining that the place is associated with the first Guru of the Sikhs, Guru Nanak Dev.

Bhai Sahib Bhai Mohinder Singh is the mukhi-Sewadar (the main volunteer) of the Sikh organisation called Guru Nanak Nishkam Sewak Jatha, which has its head office in Birmingham, UK. He has been linked to this organisation since 1974 when he met the founder and spiritual inspiration of the organisation, Sant Baba Puran Singh, Kericho-wala in Kenya. Bhai sahib is a graduate of a UK university and professionally recognised as an excellent civil engineer. He has undertaken many large scale projects involving the construction of petroleum refineries in the 70's and 80's and then large-scale housing project in Africa and in particular Zambia. Bhai sahib was living in Zambia when he first met Baba Puran Singh ji and so Bhai sahib ji was fondly known as "Zambia-wala Bhai Sahib" in the 80's and early 90's by members of the Sangat.

In 1995 that Bhai Sahib was called to take on the responsibilities of this Jatha (organisation) when Bhai Norang Singh passed away suddenly in early 1995. His first main task was to successfully complete the UK sangat's project of re-gilding the Sri Harimandir Sahib. Since those times, with Bhai sahibs energy and dedication and Waheguru's kirpa, the Sangat and Jatha have completed many important projects of the Panth.

One of Bhai sahib recent developments has been the involvement of the Sangat in further Interfaith dialogue. In this respect, the Jatha has been involved with CPWR , Religions for Peace, UN NGO Programmes, etc. In 2004, the efforts of Bhai sahib resulted in a first for Sikhi when on the occasion of the 400th celebration of the first prakash (installation) of Sri Guru Granth Sahib, the Jatha took part in the Forum 2004 in Barcelona. The legacy of the event was the serving of Langar to the many thousand who attended the Interfaith Conference. This was a most gratifying undertaking and all who took part remember it with fond memory and utter praise on the Guru for blessing of such Sewa.



JALANDHAR: The SGPC and the Akal Takht on Wednesday demanded that the Punjab government release fresh water into the Kali Bein to save it.

Not only had he stopped the flow of fresh water into the historic bin, but BJP MLA Amarjit Sahi had allegedly even questioned the religious and historical significance of the rivulet.

Akal Takht, SGPC want fresh flow | India News - Times of India



@Saif

 
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Education Ministry orders immediate halt to hill cutting for Cumilla University project
UNB
Published :
Nov 27, 2024 23:27
Updated :
Nov 27, 2024 23:27

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The Ministry of Education has ordered an immediate stop to hill cutting during the implementation of the "Further Development of Comilla University" project. The directive also calls for replanting trees in the affected area and submitting a report on environmental compliance during the development work.

This instruction follows a letter issued on October 15 by Syeda Rizwana Hasan, Adviser to the Ministry of Environment, Forest, and Climate Change. The letter highlighted that development activities in the Lalmai Hill area of Comilla Sadar South were carried out without the necessary approval from the Department of Environment.

The letter also warned that such actions under a government project set a harmful precedent for private or individual projects. It emphasized that hills, as invaluable natural resources, cannot be restored once destroyed. Lalmai Hill, in particular, holds national heritage and archaeological significance, which must be preserved.

The directive, signed by Ahmed Shibli, Deputy Secretary of the Secondary and Higher Education Division, was issued on November 27 to ensure compliance with environmental laws.

The Ministry of Environment hopes all parties will respect the law and adopt eco-friendly practices in future development projects.​
 

The unseen cost of Dhaka’s toxic air

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FILE VISUAL: ABIR HOSSAIN

Imagine, for a moment, walking through the streets of Dhaka on a cold winter morning. The smog hangs thick in the air, wrapping the city in a grey blanket. The sun, struggling to break through, casts a dull light over the buildings. This isn't just an unpleasant sight, it's a sign of a public health emergency. The "State of Global Air 2024" report confirms what many of us already know—Dhaka has one of the worst air quality in the world, consistently ranking among the top cities with hazardous pollution levels. On one particular morning, the Air Quality Index (AQI) in Dhaka was measured at 291—labelled "very unhealthy." This means that every breath we take in Dhaka carries harmful particles that can damage our lungs, hearts, and even brains.

The problem is not just the occasional bad day—it is a constant, pervasive issue. Every year, more than 230,000 people in Bangladesh die from diseases linked to air pollution, and many of these deaths are avoidable. Perhaps the most heartbreaking fact is that children are bearing the brunt of this pollution. According to the latest report, air pollution is the second-leading cause of death among children under five, after malnutrition. In 2021, over 19,000 children in Bangladesh died from air pollution-related diseases, such as pneumonia and asthma. These are not just statistics—they represent children who never had the chance to grow up.

In many ways, this situation mirrors the bleak descriptions of industrialised cities found in classic English literature. Take, for example, Charles Dickens' portrayal of Victorian London in Bleak House, where the fog was not just a physical phenomenon but a symbol of the social and moral decay of the time. The thick, suffocating fog in Dickens' novel could be seen as a metaphor for the way pollution clouds our judgment today—distorting our understanding of the consequences of our actions and making it difficult to see the full picture of the damage we are causing to the environment and to each other. Just as the poor of Dickens' London suffered most in the industrial age, today it is the poorest communities in Dhaka, along with our children, who are most affected by the toxic air.

As we look around, it's hard to ignore the fact that the streets of Dhaka, like those of Dickensian London, are filled with people who have little choice but to breathe in the polluted air. But unlike the poor workers of the past, we have the knowledge and resources to act. We know the dangers. The question is: will we take responsibility for the future of our city and its people?

Air pollution, particularly the fine particles known as PM2.5, is the silent killer here. These particles are so small that they can enter our lungs and bloodstream, causing long-term damage. Children are especially vulnerable because their lungs are still developing, and they breathe in more air relative to their body weight than adults do. This means that every breath a child takes in Dhaka could be harmful. In fact, the pollutants in the air can cause lifelong health issues, including asthma, lung diseases, and even brain development problems. As a result, children grow up in a city that doesn't just limit their dreams—it limits their health.

Dhaka's air pollution is not just a human problem, it is a problem that affects the environment as well. Just as a novel's setting shapes the characters, the environment shapes the lives of those who live in it. In Dhaka, the air is no longer something we can take for granted. It is a poisoned gift, one that we have collectively polluted through our choices—choices about how we build, how we commute, and how we use energy.

The dense fog in the streets, the visible haze over the skyline, are not just symptoms of a poorly managed city, they are the result of years of environmental neglect. We have allowed the city to grow without the necessary green spaces, proper waste management, and a public transportation system that reduces the need for countless private cars. The irony is that, despite all the noise, the real crisis is silent. The children suffer in ways that are unseen, and we have become numb to the changes happening around us.

But we do not have to resign ourselves to this fate. There is hope if we choose to act. We can invest in cleaner technologies, such as electric vehicles and green public transport systems. We can clean up our industries and encourage businesses to adopt sustainable practices. We can also work to improve household air quality by providing alternatives to polluting fuels. The government and citizens must work together to find solutions.

The health of our children, the future of Dhaka, and the future of our planet depend on the choices we make today. It is time to change the narrative, take control of our story, and ensure that the air we breathe is not the tragic backdrop to our lives but a source of life, health, and hope for future generations. The thick, suffocating fog we face is not inevitable—it is a challenge we must overcome for the sake of our children and the world they will inherit.

Md Kawsar Uddin is associate professor at the Department of English and Modern Languages in the International University of Business Agriculture and Technology (IUBAT).​
 

Act now to check winter air pollution
Air pollution is taking a heavy toll on our lives

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VISUAL: STAR

We are once again at that time of the year when the air we breathe becomes dangerously polluted, not just in the capital but across the country. This year is no exception. Over the past few days, Dhaka's air quality has consistently been classified as unhealthy or hazardous, and there is a concern that pollution levels will worsen as winter intensifies. For instance, on November 27, the concentration of PM2.5 in the city exceeded the WHO standard by 43 percent—an ominous sign for public health.

According to a report by IQAir, a Switzerland-based organisation, Dhaka has ranked among the top two or three most polluted cities globally throughout November. On November 24, Dhaka's air was rated the second worst in the world, with an IQAir pollution score of 291. Just two days later, the score rose to 324, indicating hazardous conditions. The situation is clearly dire, and without immediate action, we risk a public health crisis in the near future.

It's unthinkable that we have come to a point where air pollution has become so dangerous, thanks to the failure of successive governments. Between 2000 and 2019, $6.5 crore was reportedly spent on two major projects to combat air pollution, in addition to other initiatives funded by hundreds of millions of dollars in foreign aid. Yet, despite these efforts, Dhaka remains one of the most polluted cities globally. High Court directives aimed at curbing air pollution—over 20 rulings, summons, and orders—have also been ignored, reflecting a failure of accountability and enforcement.

Today, illegal brick kilns continue to operate on the city's outskirts, spewing toxic smoke into the air. Outdated vehicles emitting black smoke ply the roads, while poorly planned construction projects scatter dust and debris throughout the capital. These persistent issues reveal the mismanagement and inefficiencies of successive governments.

Therefore, it is imperative for the interim government to take decisive action to combat this invisible yet deadly threat. We welcome the recent formulation of a national action plan to tackle air pollution. However, its immediate and effective implementation is critical. Additionally, the government must provide clear guidelines to citizens on how to protect themselves from the health hazards posed by polluted air. The time to act is now. Failure to address this crisis will only deepen its impact on public health and the economy.​
 

The unseen cost of Dhaka’s toxic air

View attachment 11075
FILE VISUAL: ABIR HOSSAIN

Imagine, for a moment, walking through the streets of Dhaka on a cold winter morning. The smog hangs thick in the air, wrapping the city in a grey blanket. The sun, struggling to break through, casts a dull light over the buildings. This isn't just an unpleasant sight, it's a sign of a public health emergency. The "State of Global Air 2024" report confirms what many of us already know—Dhaka has one of the worst air quality in the world, consistently ranking among the top cities with hazardous pollution levels. On one particular morning, the Air Quality Index (AQI) in Dhaka was measured at 291—labelled "very unhealthy." This means that every breath we take in Dhaka carries harmful particles that can damage our lungs, hearts, and even brains.

The problem is not just the occasional bad day—it is a constant, pervasive issue. Every year, more than 230,000 people in Bangladesh die from diseases linked to air pollution, and many of these deaths are avoidable. Perhaps the most heartbreaking fact is that children are bearing the brunt of this pollution. According to the latest report, air pollution is the second-leading cause of death among children under five, after malnutrition. In 2021, over 19,000 children in Bangladesh died from air pollution-related diseases, such as pneumonia and asthma. These are not just statistics—they represent children who never had the chance to grow up.

In many ways, this situation mirrors the bleak descriptions of industrialised cities found in classic English literature. Take, for example, Charles Dickens' portrayal of Victorian London in Bleak House, where the fog was not just a physical phenomenon but a symbol of the social and moral decay of the time. The thick, suffocating fog in Dickens' novel could be seen as a metaphor for the way pollution clouds our judgment today—distorting our understanding of the consequences of our actions and making it difficult to see the full picture of the damage we are causing to the environment and to each other. Just as the poor of Dickens' London suffered most in the industrial age, today it is the poorest communities in Dhaka, along with our children, who are most affected by the toxic air.

As we look around, it's hard to ignore the fact that the streets of Dhaka, like those of Dickensian London, are filled with people who have little choice but to breathe in the polluted air. But unlike the poor workers of the past, we have the knowledge and resources to act. We know the dangers. The question is: will we take responsibility for the future of our city and its people?

Air pollution, particularly the fine particles known as PM2.5, is the silent killer here. These particles are so small that they can enter our lungs and bloodstream, causing long-term damage. Children are especially vulnerable because their lungs are still developing, and they breathe in more air relative to their body weight than adults do. This means that every breath a child takes in Dhaka could be harmful. In fact, the pollutants in the air can cause lifelong health issues, including asthma, lung diseases, and even brain development problems. As a result, children grow up in a city that doesn't just limit their dreams—it limits their health.

Dhaka's air pollution is not just a human problem, it is a problem that affects the environment as well. Just as a novel's setting shapes the characters, the environment shapes the lives of those who live in it. In Dhaka, the air is no longer something we can take for granted. It is a poisoned gift, one that we have collectively polluted through our choices—choices about how we build, how we commute, and how we use energy.

The dense fog in the streets, the visible haze over the skyline, are not just symptoms of a poorly managed city, they are the result of years of environmental neglect. We have allowed the city to grow without the necessary green spaces, proper waste management, and a public transportation system that reduces the need for countless private cars. The irony is that, despite all the noise, the real crisis is silent. The children suffer in ways that are unseen, and we have become numb to the changes happening around us.

But we do not have to resign ourselves to this fate. There is hope if we choose to act. We can invest in cleaner technologies, such as electric vehicles and green public transport systems. We can clean up our industries and encourage businesses to adopt sustainable practices. We can also work to improve household air quality by providing alternatives to polluting fuels. The government and citizens must work together to find solutions.

The health of our children, the future of Dhaka, and the future of our planet depend on the choices we make today. It is time to change the narrative, take control of our story, and ensure that the air we breathe is not the tragic backdrop to our lives but a source of life, health, and hope for future generations. The thick, suffocating fog we face is not inevitable—it is a challenge we must overcome for the sake of our children and the world they will inherit.

Md Kawsar Uddin is associate professor at the Department of English and Modern Languages in the International University of Business Agriculture and Technology (IUBAT).​

I am really impressed with the concern shown by BD to protect environment and awareness in BD regarding environment and forest.
 

Unlocking fiscal constraints for climate action
Bank Company Act

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Climate change has emerged as a significant risk to sovereign debt sustainability, impacting fiscal stability and growth prospects. For example, extreme weather events such as cyclones and floods lead to infrastructure destruction, reduced agricultural output and displacement, necessitating increased public expenditure for recovery.

For instance, Pakistan's floods in 2022 caused damages exceeding $30 billion. In Bangladesh, Cyclone Sidr (2007) caused damages of approximately $1.7 billion.

The European Central Bank warns that climate inaction could exacerbate sovereign risks due to materialised liabilities and financial instability. Their report highlights the growing impact of climate change on sovereign debt and financial stability, emphasising the urgency for integrating climate risks into fiscal planning.

It outlines how climate-related hazards, including extreme weather and long-term environmental changes, can directly harm public finances through increased recovery costs and indirectly disrupt economies, reducing tax revenues and raising borrowing costs. The report stresses that inaction on climate risks could lead to higher sovereign risk premiums and deteriorating credit ratings, especially for vulnerable countries.

It recommends that governments and financial institutions adopt proactive measures, such as incorporating climate risks into debt sustainability analyses, enhancing transparency, and mobilising green investments to mitigate these challenges.

Developing countries face a compounded crisis of rising sovereign debt and heightened vulnerability to climate change. For instance, countries like Mozambique, Bangladesh, etc. face acute fiscal constraints that limit their ability to finance climate resilience projects. This nexus creates a vicious cycle: climate events damage economies, increase debt burdens, and reduce fiscal capacity to address future risks. New financing mechanisms aim to alleviate fiscal constraints while driving climate action, with nations restructuring or forgiving parts of their debt in exchange for investments in conservation or renewable energy.

Green bonds offer investors the opportunity to align their portfolios with environmental objectives while earning returns. Bangladesh has begun exploring creative solutions to address climate finance challenges. Some key examples include sovereign green bonds.

Bangladesh's first sustainability-linked bond (SLB) was issued by Pran Agro Limited. The bond, arranged by Standard Chartered Bank, is a significant milestone in Bangladesh's sustainable finance sector. It links financial incentives to achieving specific sustainability targets, such as reducing greenhouse gas emissions and enhancing resource efficiency. This innovative financing approach aligns with global environmental and social priorities while supporting the country's economic development.

Partnerships with the private sector could help reduce public financing burdens.

Also, clean energy from rooftop solar installations in garment factories can reduce operational costs while meeting international buyers' renewable energy requirements. The success of factories in Gazipur demonstrates the viability of this approach. The BGMEA has identified rooftop solar as a significant opportunity to reduce energy costs and carbon footprints in the garments sector. However, high initial costs deter private investments in renewable energy projects. Besides, the aging infrastructure of Bangladesh's national grid limits its ability to incorporate renewable energy.

So, credit rating agencies and multilateral development banks should include climate risk factors in their analyses to facilitate climate-resilient investments. Developing countries need access to debt-for-climate swaps or concessional loans, coupled with technical support to implement climate projects.

Simplified processes for accessing funds under frameworks like the Green Climate Fund are essential to empower vulnerable nations. Additionally, developed nations must enhance contributions to climate funds, ensuring fair and adequate financial support for adaptation and mitigation.

The writer is chairman of Financial Excellence Ltd. This piece is based on his discussion points at COP29 in Baku, Azerbaijan.​
 

Ban on polythene bags alone will hardly work
01 December, 2024, 00:00

IT IS commendable that the government has announced its firm position against the widespread use of one-time plastic products and continued its drive against polythene bags, but the state of plastic pollution suggests that enforcing a polythene ban is not enough. The environment ministry issued a directive in August that listed 17 single-use plastic products as hazardous and asked retailers and others concerned to phase out the products. The ban on the use of polythene in supermarkets was, accordingly, enforced in October and the same directive was made effective for all retail stores and markets on November 3. Since the imposition of the ban, the government has conducted 166 drives in which 349 entities were fined Tk 19,29,900 and 40,000 kilograms of polythene were seized. After years of negligence in implementing the Polythene Bag Control Act 2002, strict action against the use of polythene is a welcome development, especially in view of the environmental and health burden of plastic pollution. However, the fight against plastic pollution requires a multi-pronged approach which needs to include a biodegradable alternative to polythene and a waste management programme to recycle plastic already in use.

A photograph that New Age published on November 30 shows that the unabated dumping of plastic products into the Subhadya canal at Jinjira in Dhaka has almost killed the canal. An estimated 250 tonnes of single-use plastic enter the environment every month and about 80 to 85 per cent of the waste, once discarded, ends up in drains, lakes, rivers and the Bay of Bengal. The ban on polythene is, therefore, a key step in preventing plastic pollution, but it does not address the hazardous plastic items that have already entered the environment. Metal and toxic elements released by way of unplanned disposal of plastic items are diffused into the environment which eventually enter the food chain. The government needs to develop a plan to recycle plastic already in use and provide a biodegradable alternative. Decades of marketing of polythene bags and single-use plastic products have changed consumer behaviour and for a change, there is the need for an awareness campaign. In October, the Plastic Foundation, a platform for plastic manufacturers, urged the government to consider a timeframe of a minimum of six months to a year to support the transition to an alternative. The economy in this case is not necessarily limited to the concern expressed by the industry owners that the sudden ban will risk their investment. There is also the informal recycling economy that provides a livelihood for many.

For the government to viably stop the use of environmentally hazardous polythene bags and single-use plastic, it should consider developing a long-term plan in consultation with all stakeholders involved in the informal recycling economy. A ban on polythene bags alone, without a recycling and waste management programme and support for stakeholders so that they can transition to producing biodegradable alternatives, will not be sustainable in the fight against plastic pollution.​
 

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