Eastern Bank PLC. (EBL), a leading private commercial bank in Bangladesh, and the Embassy of the Federal Republic of Germany enter into a partnership to collaborate on the 'EBL Climate Change Action Award' with the common goal to promoting climate change adaptation and mitigation in Bangladesh.

The award will be announced annually with the aim of recognising and celebrating the best practices by local corporations, manufacturing companies, NGOs, and climate activists who have demonstrated excellence and leadership in implementing climate projects and initiatives.

The Joint Declaration of Intent was signed by German Ambassador Achim Tröster and Managing Director and CEO of EBL Ali Reza Iftekhar.

German Ambassador to Bangladesh Achim Tröster said, "Mitigating Climate Change and adapting to it can only work if governments, private sector and civil society work hand in hand. This effort needs leadership, innovation and mutual learning by all actors. Thus, we very much welcome the Initiative of Eastern Bank Limited to honour such efforts in Bangladesh. EBL is already a long-standing partner supported by German Development Cooperation´s private sector instruments with loans and technical support. We are happy to intensify this cooperation with this Joint Declaration of Intent."

EBL's Managing Director Ali Reza Iftekhar said, "Germany and EBL share a common goal of promoting work to combat climate change challenges impacting Bangladesh. We are delighted to enter into this partnership with the Embassy of the Federal Republic of Germany on our Climate Change Action Award initiative and hope to work together closely to promote the climate cause. Through this award we aim to inspire and motivate more actors to join the fight against climate change in Bangladesh."

The award categories cover a wide range of sectors and themes involving climate change challenges crucial to Bangladesh.

The winners will be selected by a panel of judges, comprised of experts from academia, civil society, media, and international partners like the German Embassy.

The nomination process for the EBL Climate Change Action Award 2024 will be announced soon through newspaper, electronic media and EBL website and social media platforms.

This was EBL's second partnership. Earlier this year in May, EBL and the U.S. Department of State signed a partnership to collaborate on the EBL Climate Change Action Award.

Link :https://www.tbsnews.net/economy/corporates/ebl-german-embassy-partner-promote-climate-action-955481