Mutual Trust Bank PLC and Global Climate Partnership Fund co-host the event for ‘fostering climate finance partnership in Bangladesh’
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Zurich/ Dhaka, 06 May 2024 – Mutual Trust Bank PLC (MTB) in association with Global Climate Partnership Fund (GCPF) co-hosted an event on ‘Fostering Climate Finance Partnership in Bangladesh’ at Renaissance Gulshan Hotel, Dhaka on 25th April.
In the event, MTB, the 2023 Global Climate Partnership Award winner introduced its innovative new product aimed at accessible financing to bridge the gap between smallholder farmers in Bangladesh and cost-effective electric vehicle (EV) solutions. Under the novel financing scheme, MTB already financed fish farming farmers and garage owners with EV vehicles, realising the conceptual framework into reality. In the process, MTB partnered with Solshare, and conducted an awareness campaign with EV vehicle drivers in Rajshahi.
During the event, the Bank also recognized the outstanding contribution of customers for successful implementation of climate mitigation technologies and acknowledged the efforts of the relationship managers for their contribution to promoting climate investments.
The event also hosted a panel discussion on “Opportunities and Challenges in the Climate Finance Landscape in Bangladesh”. Sathish Dhanapal from responsAbility Investments AG moderated the panel. The panel discussion covered multiple facets of climate financing without limit to prospects and challenges of climate finance in Bangladesh, effects of environmental and social risks, climate adaptation and risk mitigation measures as well as regulatory intervention in this regard.
Mutual Trust Bank’s CEO, Syed Mahbubur Rahman acknowledged the collaborative efforts of MTB and the valued clients, for their commitment to climate mitigation. He alo expressed his hope that affiliation with GCPF will enable MTB in building capacity and create inclusive financing opportunities that would help reduce CO2 emissions and energy usage.
Ms. Nurun Nahar, Deputy Governor of Bangladesh Bank and Chief Guest of the event mentioned that Bangladesh lies in the low-lying delta and is susceptible to climate risk vulnerability. She added that the Mujib Climate Prosperity Plan encourages climate finance and integrating green finance into mainstream financial practices remains a priority for Bangladesh Bank. She thanked the organizers for hosting such event and hoped that this would be a landmark for promoting climate finance in Bangladesh.
Daniel Donald de. Lange, also Jury member of the Global Climate Partnership Award 2023 handed over the trophy to MTB winning team for their achievement. The trophy was made from residual plastics from the ocean and other surroundings.
About the Global Climate Partnership Fund (GCPF)
The Global Climate Partnership Fund is a Luxembourg-based fund managed by the Swiss asset manager responsAbility Investments AG. The Fund is an innovative public-private partnership dedicated to mitigating climate change through a reduction of greenhouse gas emissions in emerging and developing markets. It focuses on financing energy efficiency and renewable energy projects, through local financial institutions or directly. Only projects that generate significant energy savings and pledge to reduce projected greenhouse gas emissions by at least 20% are eligible for funding.
GCPF was established by the German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU), KfW Entwicklungsbank and the International Finance Corporation (IFC) in 2009 as a public-private partnership. Junior catalytic capital is provided by BMU, the department for Business, Energy and Industrial Strategy (BEIS) of the UK, Denmark’s development cooperation (Danida). Other private and public investors include ASN Bank, Ärzteversorgung Westfalen-Lippe, FMO, OeEB, Sparkasse Bremen, the European Investment Bank (EIB) and Heilsarmee.
About responsAbility Investments AG
responsAbility Investments AG is a leading impact asset manager specializing in private market investments across three investment themes to directly contribute to the United Nations Sustainable Development Goals (SDGs): Financial Inclusion, to finance the growth of Micro & SMEs; Climate Finance, to contribute to a net zero pathway; and Sustainable Food, to sustainably feed an ever-growing population. All responsAbility investment solutions target specific measurable impact alongside market returns.
Since its inception in 2003, responsAbility has deployed over USD 14 billion in impact investments. With over 270 employees collaborating across eight offices, as of 1 October 2023 the company manages USD 4.7 billion in assets across approximately 270 portfolio companies in 72 countries. Since 2022 responsAbility is part of M&G plc, the international savings, and investments business, and contributes to enhancing M&G’s capabilities in impact investing.
