Framework for climate-related public spending

The government has made a climate fiscal framework (CFF) to ensure transparency and accountability of climate-related public expenditure.
The Finance Division and UNDP jointly organised a workshop on the CFF at a local hotel on Wednesday where State Minister for Finance MA Mannan was the chief guest.
A planning ministry report revealed that 6-7 percent of the budget is used for activities related to climate change through different funding modalities, and an institutional framework is required for proper and effective utilisation of this expenditure.
CFF has been formulated in this context with two major objectives: to track all climate-related expenditures incurred by the government at the present time and to estimate potential costs of long-term finance needs to combat harmful effects of climate change, the finance division said.
The recommendations once implemented are expected to help integrate all climate sensitive expenditures into the national budget. It will also help in risk assessment, adaptation and mitigation.
Shamsul Alam, member of the General Economics Division of the Planning Commission; Pauline Tamesis, country director of UNDP Bangladesh; and Fazle Kabir, secretary to the Finance Division,  were also present.