Carbon trading

Carbon trading is an opportunity for the developing countries.  It also referred to as emission reduction trading. The Kyoto Protocol has developed a strategy by which the developed country will sponsor to the developing countries for increasing forest coverage. Project implementers will receive the forest credits. It is an economic tool which allows for several parties to meet total emission reduction requirements at lower costs by working together. In theory, if one party can reduce emissions at a lower cost than a second party, then first party could maximize emission reductions and sell any surplus reductions to the second party to help meet its reduction requirements. The aim is to improve the overall flexibility and economic efficiency of obtaining emission reduction. Carbon sequestration projects through land use, land-use change and forestry (LULUCF) activities could demonstrate a win-win situation from the point of view of climate change and sustainable development.

Bangladesh’s approach to carbon resilience

Bangladesh's government intends to implement measures to minimize greenhouse gas emissions, such as solar-powered irrigation systems and the adoption of new energy-efficient technology. The country is a member of the NDC Partnership and has worked with the NDC Support Facility to develop a low-carbon strategy for the country’s inland waterway transport sector as well as prepare a greenhouse (GHG) inventory and a monitoring, reporting, and verification system to support a low carbon and resilient transition. The country’s masterplan for energy efficiency and control (2015) sets the goal of reducing the country's energy intensity (i.e. the ratio of national energy consumption to GDP) by 15% in 2020 and 20% in 2030, as compared to the levels in 2013. Private investments are expected to play a major role in this ambition.

The agricultural sector is both key to achieving zero hunger in Bangladesh and could help reduce our greenhouse gas emissions over the next few decades. This requires inventive thinking about how we, as a society, can achieve these two goals in harmony, and participatory scenarios could be a great tool for this.