Eastern Bank PLC, one of the leading private commercial banks in Bangladesh, will launch "Climate Change Adaptation Award" this year.

The award aims to recognise and celebrate the best practices and innovations in climate change adaptation, resilience, and mitigation in Bangladesh by different business entities, organisations, and activists, the bank said in a press release.

The award will be given annually in different categories covering a wide range of sectors and themes, such as renewable energy, water conservation, sustainable agriculture, urban resilience, biodiversity protection, and disaster preparedness.

The award is open to all corporates, manufacturing companies, and non-governmental organisations (NGOs) operating in the country, and climate activists who have demonstrated excellence and leadership in implementing climate change adaptation projects and initiatives.

Ali Reza Iftekhar, managing director and CEO of the bank, said that climate action is crucial for Bangladesh to sustain strong growth.

"To raise awareness about climate change adaptation, resilience, and mitigation, we think it is high time we should initiate an award to recognise, reward climate change initiatives by corporates, manufacturing companies, NGOs, organisations advocating and promoting climate risk adaptation and mitigation initiatives."

The award winners will be selected by a panel of judges, comprising experts from academia, civil society, media, and international agencies.

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

The Daily Star is the official media partner for the award.