DHAKA, March 21, 2024 (BSS) - Environment, Forest and Climate Change Minister Saber Hossain Chowdhury today said a Memorandum of Understanding (MoU) on Article 6 of the Paris Agreement, which governs carbon markets, is expected to be finalised within two months.
 
"The finalised MoU on Article 6 will be a step forward in solidifying this partnership and enhancing climate action efforts," he told reporters after holding a meeting with South Korean Ambassador to Bangladesh Park Young-sik at Bangladesh Secretariat here.

The environment minister said they talked about mechanisms for carbon credit exchange and cooperation under the Paris Agreement.

They also discussed engaging private sector in environmental initiatives and investments and South Korea's financial contributions to green technology and infrastructure.

Saber Hossain reiterated Bangladesh's unwavering dedication to achieving the Sustainable Development Goals (SDGs), particularly those related to environmental conservation and climate action.

At the meeting, they explored collaborative efforts to address environmental issues and climate change mitigation.

The conservation and management of forests would be crucial for both countries, considering their role in carbon sequestration, the minister said, adding that they also discussed initiatives related to renewable energy sources.

"The use of solar-powered pumps can enhance sustainable agricultural practices. They will involve the application of advanced technologies to monitor and manage environmental health," he said.

During the meeting, the South Korean envoy exchanged insights on innovative strategies to combat climate change, preserve forest ecosystems, and promote sustainable development.

 The meeting concluded with a shared commitment to further strengthening bilateral cooperation through knowledge sharing, technology transfer and joint initiatives aimed at mitigating the adverse impacts of climate change and preserving our planet's precious natural resources.