Green investment increases by 8.9pc in April-June quarter

Published: September 28, 2018 20:54:42 | Updated: September 29, 2018 10:38:08

Investments in green initiatives have increased by 8.90 per cent at the end of April to June quarter of 2018 compared to the previous January to March period.

According to Bangladesh Bank (BB), the total amount invested as green finance increased to Taka 26,237.75 million in April to June 2018 quarter from Taka 24,092.40 million in January to March quarter, reports BSS.

As per the quarterly report from April to June, BB is trying to play a significant role by monitoring the whole scenario and by taking appropriate policy initiatives.

“We can expect the outcome of these initiatives to be positive and anticipate more rigorous and effective performance of banks and FIs in mainstreaming green banking in future,” the report added.

A BB official said, the banks and financial institutions (FIs) have also adopted green practices in their day to day business and long-term operations.

The official also informed that 31 banks out of 57 and 10 FIs out of 33 have exposure in green finance in the reported quarter.

“The central bank issued a policy guideline for green banking in February, 2011. Under the guideline, all operating banks and FIs have introduced environment-friendly banking activities in the country,” he added.

He said 56 banks have at least one online branch and 46 banks have introduced internet banking facility till June, 2018.

The banks and FIs are now providing regular training to their staff on green banking, he added.

BB data shows that 32 banks have arranged 114 training programmes concerning green banking where the total number of participants was 3,860.

On the other hand, six FIs have arranged six training programmes concerning green banking where the total number of participants was 147.

As per the central bank’s instruction, the official said, banks and FIs have formed a “Climate Risk Fund” by allocating 10 per cent of their Corporate Social Responsibility (CSR) budget for this fund.

BB established a lending scheme namely “Financing Brick Kiln Efficiency Improvement Project”, supported by Asian Development Bank (ADB), to help reducing greenhouse gas emissions and refine particulate pollution from brick fields, the BB official said.

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