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- Independence Award 2019, the highest Bangladesh National Civilian Award, presented by the Government of Bangladesh.
- Awarded Ekushey Padak 2009, one of the highest Bangladesh National Civilian Awards, presented by the Government of Bangladesh.
- National Environment Award 2019, presented by the Government of Bangladesh.
- Has been member (as both lead and coordinating lead author) of the team that contributed to the award of the Nobel Peace Prize to the Intergovernmental Panel on Climate Change (IPCC) in 2007.
- Awarded Bangladesh Economic Association (BEA) Gold Medal 2012 for his outstanding contribution to the economy, education, research, and social development.
- Prokriti Shongrokkhon Podok 2017, Prokriti O Jibon Foundation (POJF), Dhaka.
- MTC Global Life Time Achievement Award 2017 by MTC Global—A Global Think Tank in Higher Education, Bangalore, India.
- Received Mercantile Bank Award-2005 for his outstanding contribution in the field of economic research.