Dhaka, Bangladesh (BBN)– There is a greater need for close coordination amongst regulators for boosting green businesses, said former Bangladesh Bank (BB) Governor Atiur Rahman.
The former governor said this while addressing a panel discussion at the Asian Development Bank (ADB) headquarters in Manila on Tuesday, according to a message.
The panel was moderated by Michael Barrow of ADB and participated by other panelists including Christopher of European Investment Bank, Arun Agarwall of Yes Bank, Assad Razzouque, Group Chief Executive Officer (CEO) of Sindicatum Sustainable Resource, Mahua Acharya of GGGI and Dipal Barua of Bright Green Energy Foundation, Bangladesh.
The forum was also attended by Bangladesh Environment and Forest Minister Anwar Hossain Manju who spoke about the contribution of the government and the central bank in promoting green businesses.
At the discussion, Professor Rahman talked about how the mindset of the bankers was transformed to go green through moral suasion, appropriate regulations, and macro-prudential supervision by the central bank in Bangladesh.
He also talked about supportive role of the public finance for effective subsidies and funding, market development, and appropriate rules and regulations.
“Help savers and investors to take value-based decision for greater planetary good,” Dr. Rahman explained.
Referring to policy innovations made by the BB for inclusive and sustainable finance, the former governor stressed exploring many small things, monitoring what works, and questioning why it did not work.
Better green finance policy would emerge through such iterative practices, according to the former governor.
He also said promotion of green finance is bound to yield many business opportunities in the long-run. “Green finance is a journey and not a destination,” he noted.
Dr. Rahman is scheduled to speak at another panel on Green Bond on Wednesday.
BBN/SSR/AD