A validation workshop on
Climate Fiscal Framework (CFF), jointly organized by Finance Division and the UNDP, was held here on Wednesday. State Minister for Finance and Planning M A Mannan attended the workshop as the chief guest. Member of General Economics Division of Planning Commission Dr Shamsul Alam and UNDP Country Director Ms. Pauline Tamesis were present as special guests. Finance Secretary Fazle Kabir presided over it, said a press release.
The effects of climate change will endanger the present world, particularly developing countries like Bangladesh. Bangladesh has considered the necessity of a Climate Fiscal Framework (CFF) to ensure transparency and accountability of climate related public expenditure in overcoming the adversities of climate change, and to continue the development process on a sustainable path.
According to the Climate Public Expenditure and Institutional Review (CPEIR) of the planning ministry, 6-7 percent of the national budget is expended for activities related to climate change through different funding modalities (GO’s, NGO’s, DP’s).
Policies are not only remedy but an institutional framework is required for proper and effective utilization of this expenditure and CFF has been formulated in this context with two major objectives: to track all climate related expenditures incurred by the government at the present time, and to estimate potential costs of long term finance needs to combat harmful effects of CC.
This will also be helpful in identifying areas of institutional weakness and skills gap for further development. The recommendations put forward in CFF, once implemented, are expected to help integrate all climate sensitive expenditures into the national budget. It will also help in risk assessment, adaptation and mitigation.
