Green Economy and Views on Climate, Environment, Disaster Management, and Renewable Energy in the Proposed Budget for the Fiscal Year 2024–25
On June 22, 2024, Change Initiative held a press conference titled "Green Economy and Views on Climate, Environment, Disaster Management, and Renewable Energy in the Proposed Budget for the Fiscal Year 2024–25," emphasizing the need for a transition to Sustainable Prosperity 2050.
The discussion highlighted that Bangladesh's climate-related funding in the proposed FY 2024–25 budget is critically low, with only 100 crores allocated for renewable energy out of the required 3,086 crores. Imposing a carbon tax of 5% to 10% on fossil fuel imports could generate 2,060 to 4,120 crores annually, and a 5% pollution tax on plastics, brick kilns, buildings, polluting institutions, water extraction, and deforestation could yield another 2,900 crores annually.
To achieve sustainable prosperity by 2025, the Change Initiative recommends prioritizing the conservation of water, forests, and biodiversity, reforming policies and governance structures, and allocating at least 5% of GDP to green budget implementation. Innovative financing methods, such as carbon and pollution taxes, grants, zakat, private donations, green bonds, and international climate funds, are essential.
