The government increased the budget allocation for the protection of the environment slightly in the proposed national budget for the 2022-23 fiscal year (FY23) taking the immense importance of environmental protection into consideration.
Tk 15 billion is allocated for the Ministry of Environment, Forest and Climate Change in the budget, up from Tk 12.22 billion which was allocated in FY22.
Considering the immense importance of environmental protection, the government has made it mandatory to follow a pragmatic and inclusive environment-friendly plan in all development activities while addressing the risks of climate change, read the budget speech.
“By 2030, the target of reducing carbon-dioxide emissions has been set at 6.73 per cent with the country’s own financing and technological capabilities. Another 15.12 per cent of this emission reduction has been provisioned subject to the availability of international funding and technical assistance,” it said.
“Steps have been taken to make all existing industries and newly established industries environment friendly”.
We are working on ensuring the availability of 40 per cent of our energy resources from renewable sources by 2041, he added.
Meanwhile, so far, 13 areas of the country have been declared Environmentally Critical Areas and in the last 13 years, a total of 35 new protected areas have been created.
During the same period, 95,265 hectares of blocks, 26,453 seedling km strips, and 68,113 hectares of mangrove orchards have been created in the country and 106 endangered forests and 240 medicinal tree species have been preserved.
Under the ‘Mujib Climate Prosperity Plan’, US$80 billion is being planned for investment by 2030 to achieve climate resilience. The investment will be funded by both domestic and external sources, said the proposed budget.
