DHAKA, May 15, 2024 (BSS) - Eastern Bank (EBL), a private commercial bank in Bangladesh, and the US Department of State today inked an agreement to collaborate on the EBL Climate Change Adaptation Award.

The prize will be announced annually with the aim of recognizing and celebrating the best practices by corporations, manufacturing companies, NGOs operating in Bangladesh, and climate activists who have demonstrated excellence and leadership in implementing climate change adaptation projects and initiatives.

The agreement was signed by visiting Assistant Secretary of State for the Bureau of South and Central Asian Affairs Donald Lu and EBL Acting Managing Director Ahmed Shaheen at the EMK Centre, Dhaka, said a press release issued by the US embassy here.

In his speech, Donald Lu said, “The United States and Eastern Bank share a common goal of promoting work to combat climate change among Bangladeshi businesses, civil society, and elsewhere.  We look forward to supporting EBL’s establishment of this important new climate change adaptation award.”

US Ambassador to Bangladesh Peter Haas said, “US Embassy Dhaka is excited about this new partnership with Eastern Bank.  By helping EBL recognize businesses and organizations doing exceptional work in climate change in Bangladesh, we hope to help inspire more action in this critically important area.”

EBL’s Acting Managing Director said, “Extreme weather events worldwide are urging us to act quickly on climate adaptation, mitigation, and finance.”

Terming this initiative a unique one, Shaheen said the program aligns with EBL’s vision of being a socially responsible and environmentally friendly bank.

The award categories cover a wide range of sectors and themes, such as renewable energy, water conservation, sustainable agriculture, urban resilience, biodiversity protection, and disaster preparedness.

The award winners will be selected by a panel of judges, comprised of experts from academia, civil society, media, and international agencies.

The nomination process for the EBL Climate Change Adaptation Award 2024 will be announced soon through newspaper, electronic media and EBL website and social media platforms, the release said.