DHAKA, July 8, 2021 (BSS)  - Environment, Forest and Climate Change Minister Md Shahab Uddin today said Mujib Climate Prosperity Plan (MCPP), formulated and named after the Father of the Nation Bangabandhu Sheikh Mujibur Rahman commemorating his birth centenary, will enable to attain prosperity through resilience and green development.

He said this evening  while presenting "the Mujib Climate Prosperity Plan" in the planetary recovery and prosperity session of the V20 Ministerial Dialogue VII in the 1st Climate Vulnerables Finance Summit inaugurated by Prime Minister and CVF Chair Sheikh Hasina.

Finance Ministers of the V20, Ministers and representatives from the G7 and G20 countries, Heads of International Financial Institutions, Multilateral Development Banks and partners were present on the occasion, a ministry press release said.

Shahab Uddin said the MCPP is an ambitious agenda for action taken under the leadership of Prime Minister Sheikh Hasina, who is a strong proponent of climate actions vis-a-vis technical and financial support for adaptation, resilience, low-carbon pathways, and loss and damage.

"We put forward this plan to respond to the growing  needs of economies highly vulnerable to climate change," he said.

The minister said the initiatives taken by Prime Minister Sheikh Hasina, as the Chair of the Climate Vulnerable Forum (CVF), has played a crucial role in tackling the impacts of climate change, which is being lauded nationally and across various global platforms.

"We also wish to indicate that members of the V20 can develop investor facing Climate Prosperity Plans with support from our CVF & V20 Joint Multi-Donor Fund," he said.

Shahab Uddin said the plan ensures that the climate-related risks and opportunities are fully understood and reflected in the decisions that public and private actors make.

"We have charted ways to improve policy and investment decisions and how we implement solutions. Most importantly, we show how domestic and international partners can together mobilize new funds and resources necessary to accelerate resilience and prosperity outcomes for our economy and our people," he said.

The environment minister said climate change has ushered in an era of multiple, intersecting systemic shocks, which demand equally effective and coordinated solutions.

 "The intergenerational and international market failure associated with climate change warrants collective action. We thus look forward to working with the major economies and partners to ensure investment for realising our shared vision from climate vulnerability to maximal resilience and prosperity," he added.