UK to lend $450m in five years
British International Investment (BII) has embarked on an ambitious plan of lending $450 million to Bangladesh over the next five years, finding that the country has a stable government and policy support for private sector development. Private sector financing in the areas of renewable energy and green factories will be the focus of the fund, said top officials of the BII, the development finance institution of the UK government. The plan was made public during BII Chief Executive Officer Nick O'Donohoe's visit to Bangladesh last week. "We focus on the countries that have a strategic alliance with the UK, with ongoing development challenges, and ideally, having a stable government and stable economic policies that create jobs," said O'Donohoe. "All of these are present in Bangladesh," he said in an interview with The Daily Star at the British high commission in Dhaka. Currently, the BII has a portfolio of about $300 million in Bangladesh, supporting 11 businesses and two funds, across a variety of sectors, including financial services, infrastructure, manufacturing and food processing. Following a visit to Dhaka in 2019 by the officials of the then Commonwealth Development Corporation, which is the former name of the BII, it has already established its Bangladesh office in Dhaka.
India targets net-zero carbon emissions by 2070, says Modi
India’s economy will become carbon neutral by the year 2070, the country’s prime minster has announced at the COP26 climate crisis summit in Glasgow. The target date is two decades beyond what scientists say is needed to avert catastrophic climate impacts. India is the last of the world’s major carbon polluters to announce a net-zero target, with China saying it would reach that goal in 2060, and the United States and the European Union aiming for 2050.
COP26: What climate summit means for one woman in Bangladesh
China's carbon emissions are vast and growing, dwarfing those of other countries. Experts agree that without big reductions in China's emissions, the world cannot win the fight against climate change. In 2020, China's President Xi Jinping said his country would aim for its emissions to reach their highest point before 2030 and for carbon neutrality before 2060. His statement has now been confirmed as China's official position ahead of the COP26 global climate summit in Glasgow. But China has not said exactly how these goals will be achieved.
Why China's climate policy matters to us all
China's carbon emissions are vast and growing, dwarfing those of other countries. Experts agree that without big reductions in China's emissions, the world cannot win the fight against climate change. In 2020, China's President Xi Jinping said his country would aim for its emissions to reach their highest point before 2030 and for carbon neutrality before 2060. His statement has now been confirmed as China's official position ahead of the COP26 global climate summit in Glasgow. But China has not said exactly how these goals will be achieved.
Deliver on promises, developing world tells rich at climate talks
A crucial U.N. conference heard calls on its first day for the world's major economies to keep their promises of financial help to address the climate crisis, while big polluters India and Brazil made new commitments to cut emissions. World leaders, environmental experts and activists all pleaded for decisive action to halt the global warming which threatens the future of the planet at the start of the two-week COP26 summit in the Scottish city of Glasgow on Monday. The task facing negotiators was made even more daunting by the failure of the Group of 20 major industrial nations to agree ambitious new commitments at the weekend.