Category: Energy and Power

Oxfam has launched a Loss and Damage Dashboard, an interactive digital platform that enables communities to report climate-related losses. Piloted across 19 districts between June 2023 and March 2024, the Dashboard recorded 11,579 climate change-induced loss and damage cases amounting to Taka 1.35 billion (US$11 million) in total losses-an average of Taka 117,000 (US$954) per affected person, equivalent to around fifteen months of income for the average Bangladeshi worker. Building on these insights and data, Oxfam in Bangladesh, in collaboration with Oxfam Australia and Novib, with support from the Swedish International Development Cooperation Agency (SIDA), published a report, ‘From Ground to Global: The Loss and Damage Dashboard for Climate Equity,’ at an event in Dhaka today. Loss and damage from climate change has become one of the most pressing challenges. Despite minimal contribution to global emissions, countries in the Global South face escalating climate disasters.

COP30 in Belém has passed its midpoint with negotiations intensifying, tensions rising, and political divisions deepening.

after six days of talks, delegates have shifted from opening statements to the heavy lifting of drafting options texts across multiple tracks – mitigation, finance, adaptation, carbon markets, and the Loss and Damage Fund. Despite the flurry of activity, countries remain sharply divided on the core issues of finance and fossil fuel language, raising doubts about whether the summit can deliver a meaningful package before closing.

outside the conference halls, political pressure is mounting.

indigenous groups, civil society networks, and youth activists have amplified their demands through visible demonstrations, calling for stronger protection of forests, climate justice, and a rapid phase-out of fossil fuels.

their actions have injected urgency into a process that many believe remains too slow and too cautious, given the escalating climate crisis. Meanwhile, the geopolitical environment surrounding the talks has shifted dramatically. With the United States absent from the summit for the first time in three decades, China has stepped into the leadership vacuum, projecting influence through highlevel diplomacy and showcasing its dominance in renewable energy. This shift has reshaped negotiations and underscored the broader global transition now playing out in Belém. With draft texts circulating and political consultations set to intensify, the COP30 Presidency is urging countries to move from placeholders to real decisions. The next phase will determine whether Belém becomes a turning point for implementation or another summit marked by deferred ambition. Negotiations Stall as Protests Erupt Outside UN climate negotiations are in full swing in Belém, Brazil.

the 12-day summit opened last Monday, and nearly a week later, countries remain deeply divided on key issues – raising doubts about whether a unified agreement is achievable.

outside the venue, protests are gaining strength.

indigenous groups from across Brazil have staged peaceful demonstrations against corporationsand development projects they accuse of destroying forests and destabilizing the climate.

on Friday, the Munduruku people, who occupy about 24,000 square kilometers in northern Brazil, held a sit-in at the summit’s main entrance, demanding a meeting with COP30 President André Corrêa do Lago.

organizers agreed to the request. ‘We are the protectors of the climate. We cannot allow the Amazon to be destroyed any further for corporate profit,’ the Munduruku said in a statement. President Luiz Inácio Lula da Silva has repeatedly emphasized Indigenous leadership at COP30. However, Indigenous representatives questioned why they were brought to Belém without meaningful roles in negotiations. Environment Minister Marina Silva responded that many of their concerns target domestic policies and must be resolved within Brazil. Below is a summary of major developments, what draft texts reveal, which side-events shaped the political debate, and how the Presidency is framing the work ahead. 1) What’s Come Out of Negotiations ? Draft texts circulated: Over recent days, negotiators have produced ‘zero-draft’ and options texts across multiple tracks – mitigation and fossil fuels, Article 6 carbon markets, adaptation and Loss and Damage, and the post 2025 finance goal.

these texts clarify fault lines but remain fully bracketed. ? Fossil fuel language remains the core divide: Vulnerable and developing nations demand explicit ‘phase-out’ language, while several major emitters and fossil fuel producers prefer ‘phasedown’ or softer language tied to carbon capture and technological solutions. ? Finance is the master issue: Options range from several hundred billion to over a trillion dollars annually. Disagreements center on the balance of grants vs. loans, public vs. private flows, and how historical responsibility should shape the New Collective Quantified Goal (NCQG). 2) What the Draft Texts Actually Say ? Mitigation / MWP: The text calls for accelerated action but remains split on ‘phase-out’ versus ‘phasedown,’ the definition of ‘unabated’ fossil fuels, and the role of carbon capture. Key sections on timelines and sectoral commitments remain in brackets. ? Article 6 (carbon markets): Informal notes push for stricter integrity rules, transparency, and controls to prevent double counting – but deep disagreements persist over offset quality and flexibility. ? Adaptation and Loss and Damage: Operational rules for the Loss and Damage Fund continue to be debated; vulnerable countries warn that without real capital, the Fund risks being symbolic.

the adaptation text adds measurable indicators, but financing arrangements remain unresolved. ? NCQG / Finance: Options include pathways ranging from roughly $600 billion to more than $1.3 trillion per year in combined public and private finance. Developing countries are calling for predictable, grant-based public finance and debt relief tools. 3) Side-Events that Shifted the Debate ? Climate Finance Reset Dialogues: Discussions on debt relief, new levies (e.g., shipping, aviation, fossil windfall profits), and the role of grants vs. loans placed finance at the center of the political debate, strengthening Global South demands for systemic reform. ? Amazon and Indigenous Forums: Indigenous leaders pushed for stronger recognition of rights and increased finance for forest protection, expanding pressure for Brazil’s proposed Tropical Forests Forever Fund. ? Cities, Youth, and Civil Society Events: Subnational leadersshowcased implementation pathways, while youth groups staged actions demanding stronger fossil fuel phase-out language and real adaptation financing.

u.S.

absence Leaves a Leadership Void, China Steps in For the first time in three decades, the United States is missing from the UN’s annual climate summit, creating a diplomatic vacuum that China has quickly moved to fill.

at COP30 in Belém, China’s expansive and centrally located pavilion dominates the venue entrance.

executives from major Chinese renewable energy firms are presenting their visions for a green future, while Chinese diplomats play an active behind-the-scenes role in steering constructive negotiations.

this influence was previously associated with Washington, but the center of gravity appears to have shifted. Francesco La Camera, Director-General of the International Renewable Energy Agency (IRENA), described China’s rise succinctly: ‘Where there is a vacuum, water flows. Diplomacy works in much the same way.’ He added that China’s global leadership in renewables and electric vehicles has strengthened its diplomatic standing. Last year, China’s pavilion was modest and primarily academic.

this year, its expanded presence alongside Brazil’s signals a clear bid for global climate leadership. Speaking at the pavilion, CATL Vice President Meng Xiangfeng urged nations to ‘advance climate cooperation and build a cleaner, more beautiful world together.’ 4) COP Presidency: Tone and Public Messaging COP30 President André Corrêa do Lago has stressed the need to move from rhetoric to delivery, calling for political engagement to close remaining gaps.

the Presidency plans to convene ministerial consultations and release consolidated text iterations this week to force political choices. ‘We now move from exploration to negotiation. Drafts are on the table.

the political choices cannot be delayed any longer,’ the Presidency stated. 5) What this Means for the Final Phase ? Technical drafts are ready; the battle is political.

the next 48-72 hours will determine whether ministers can convert bracketed text into a coherent package. ? Finance and fossil fuels will shape the outcome.

agreement on a credible, grant-heavy NCQG and a political mandate for a fossil-fuel roadmap could make COP30 a turning point. Failure risks a weak, procedural outcome and further loss of trust. ? Civil society and Indigenous pressure are significant.

their presence has shaped the narrative and may influence ministeriallevel decisions in the coming days. Fossil Fuel Lobbyists Spark Controversy at COP30 A record number of fossil fuel lobbyists, more than 1,600, have registered for COP30, triggering widespread concern. According to the coalition Kick Big Polluters Out (KBPO), fossil lobbyists now outnumber nearly every national delegation except Brazil’s.

one in every 25 participants at COP30 represents fossil interests, a 12% increase over last year. KBPO reports that lobbyists received nearly two-thirds more badges than the 10 most climate-vulnerable nations combined.

the International Emissions Trading Association alone sent 60 delegates, including staff from ExxonMobil, BP, and TotalEnergies. Civil society warns that such disproportionate representation risks overshadowing communities most affected by climate impacts. Brazil has touted COP30 as a turning point for Paris Agreement implementation, but advocates fear the heavy corporate presence could obstruct progress. Concerns over the Summit’s Ambition Brazil has emphasized that COP30 should focus on implementation rather than new pledges.

to avoid early conflict, Corrêa do Lago separated several contentious items, including climate finance and national climate plan gaps, into parallel tracks. Under the official agenda, negotiators from 195 countries are working to advance adaptation frameworks, measure climate impacts, and strengthen support for vulnerable countries. Still, several delegates warn that outcomes may fall short of what the moment demands – or that negotiations could collapse.

andrew Wilson, Deputy SecretaryGeneral for Policy at the International Chamber of Commerce, cautioned, ‘If we continue at this pace, the outcome will be very weak.’ Brazil and others seek to reaffirm COP28’s call to transition away from fossil fuels and strengthen that commitment. Whether COP30 can turn that aspiration into implementation remains uncertain.

Summit Meghnaghat Power Company Limited (SMPCL), a subsidiary of Summit Power International, has successfully repaid its entire syndicated foreign project loan of $190 million to a consortium of international lenders.

the full repayment, completed by 15 October, without any delay since the plant’s commissioning, has been hailed by Summit as a major milestone that enhances Bangladesh’s reputation as a reliable global partner in infrastructure finance.

the syndicated long-term loan was financed by a group of leading international Development Finance Institutions (DFIs), including Standard Chartered Bank (UK), DEG (Germany), FMO (Netherlands), OPEC Fund for International Development (Austria), and British International Investment (UK), along with Bangladesh’s Infrastructure Development Company Limited (IDCOL).

the facility was contracted at interest rates ranging from 7.28% to 7.58%.

In a significant move towards fostering sustainable industrial growth, Infrastructure D e v e l o p m e n t Company Limited (IDCOL) and ABA Group have formed a strategic partnership to boost energy efficiency, water management, and environmental standards within ABA Group’s manufacturing operations.

the collaboration, celebrated at a ceremony at the Sheraton Dhaka and attended by senior leadership from both entities, builds upon their successful history of engagement through IDCOL’s Energy Efficiency window and Biogas Program.

this enhanced alliance is dedicated to expediting the adoption of advanced energy-efficient technologies and renewable energy solutions, particularly within the ready-made garments (RMG) sector. Known for pioneering sustainable apparel manufacturing by establishing Bangladesh’s first LEED Platinum factory, ABA Group now operates multiple LEED-certified facilities and has implemented cutting-edge systems for water reuse, wastewater treatment, and energy optimization. With tailored financing and advisory support from IDCOL, the Group is poised to further diminish its carbon footprint and establish new benchmarks for responsible manufacturing.

Millions of refugees are trapped in a vicious cycle of conflict and climate extremes, the United Nations said recently, urging the COP30 summit to provide financing for the most vulnerable. UNHCR, the UN refugee agency, said that within 15 years, the places currently hosting nearly half the world’s refugees could be facing extreme exposure to climaterelated shocks. ‘Climate change is not only amplifying existing vulnerabilities — it is also fuelling displacement trends, creating complex and compounding risks for refugees… leaving many with no escape from its impacts,’ it said in a report.

it said climate shocks were increasing humanitarian needs and amplifying the risks of repeated displacement. UNHCR said that by mid2025, 117 million people had been displaced by war, violence and persecution.

of those, three in four are living in countries facing high-to-extreme exposure to climate-related hazards, it said.

it added that over the past 10 years, weather-related disasters had caused around 250 million internal displacements within countries.

The Anti-Corruption Commission (ACC) is set to carry out a full audit of the power import deal with India’s Adani Group, alongside its ongoing investigation into alleged irregularities in the contract.

a new three-member committee has been formed to examine both the audit and the inquiry.

the team is led by ACC Deputy Director Al Amin, with Deputy Director Muhammad Zainul Abedin and Assistant Director Mahmudul Hasan as members.

the national anti-graft agency’s spokesperson Md Akhtarul Islam confirmed the formation of the committee. During the tenure of the now-ousted Awami League government, Adani Group reportedly benefited from duty and tax exemptions, resulting in alleged revenue losses amounting to Tk 45 billion.

an earlier ACC team had already been investigating the claims.

Aligning with the United Nation’s Sustainable Development Goals (SDGs), country’s superbrand and tech-giant Walton has emphasized on initiating sustainable green and renewable energy initiatives.

as a part of its green initiatives, Walton installed one megawatt capacity’s country’s largest floating solar power plant at its headquarters at Chandra in Gazipur, says a press release. Walton has marked a new milestone for a greener tomorrow through sustainable and renewable energy in the country’s industrial sector. Mostafizur Rahman Razu, head of Walton’s Environment, Health and Safety Department, said, Walton’s floating solar power plant has set an example in ensuring sustainable industrial development.

through implementing floating solar project, Walton is not only generating electricity but also marking a remarkable contribution in fish farming, land conservation, reduced water evaporation and environment protection.

after the electricity consumption at Walton factory, the excess electricity generated from floating solar plant are added to the national grid through net metering system.

With under one year until the 27th World Energy Congress, the World Energy Council is pleased to announce that Dr Naif Alabbadi has been elected to the Council’s Board as the Chair for World Energy Congress 2026. Dr Alabbadi is a senior representative in the Saudi Ministry of Energy, currently serving as Advisor for Electricity Affairs to the Minister of Energy, His Royal Highness Prince Abdulaziz bin Salman Al-Saud. With more than 30 years of expertise in the energy sector and a PhD in Mechanical Engineering from the University of Iowa, Dr. Alabbadi, in his capacity as Chair, will represent the World Energy Council and the Ministry of Energy of Saudi Arabia as co-hosts of this milestone global event.

taking place in Riyadh, Saudi Arabia, from 12-15 October 2026, World Energy Congress 2026 will bring together over 18,000 international leaders, CEOs and innovators and more than 100 ministers to bridge geographies and generations, sectors and societies, in what is the only truly global energy event in the world, with a focus on accelerating practical solutions for a future of more secure, sustainable and equitable energy for all.

Power Grid has shown signs of recovery, with year-on-year losses falling by as much as 54 per cent to Tk 2.10 billion in FY25, supported by higher revenue and favorable foreign exchange rates. Consequently, the power transmission company cut its losses to Tk 2.30 per share in FY25, compared to a loss of Tk 6.69 (restated) per share in the previous year, according to price-sensitive information published recently.

the board of directors, however, declared no dividend for the year as retained earnings remained negative. Favorable foreign exchange rates, due to relative stability in the forex market over the previous year, helped the company narrow its losses, said Power Grid in its earnings note. Foreign exchange fluctuations had previously caused substantial losses for the company. Power Grid has a significant amount of foreign loans taken for various development projects, which must be repaid in US dollars.

the profit or loss has been calculated based on the exchange rates of the US dollar and the euro on the last day of the quarter or financial year.

although Power Grid’s term loans rose 10 per cent yearon-year to Tk 548 billion, its long-term interest-bearing debts fell by 50 per cent to Tk 3.48 billion in the nine months through March this year

China’s stateowned oil- and gas-explorationcompany Sinopec is poised to secure a contract to drill five new gas wells on gasrich Bhola island, as Bangladesh moves to ramp up domestic production of the fuel amid mounting energy demand. Bangladesh Petroleum Exploration and Production Company Ltd (BAPEX), a subsidiary of Petrobangla, has selected the company following competitive bidding, and the official signing is expected soon, a senior Petrobangla official said.

under the agreement, Sinopec will carry out drilling works worth around Tk 11 billion, to be completed within 600 days of signing.

the project includes four development wells — Shahbazpur-5, Shahbazpur-7, Bhola North-3, and Bhola North-4 — and one exploratory well, Shahbazpur North-East-1. These wells will be drilled to depths of 3,500-3,600 meters, according to project documents.

the Executive Committee of the National Economic Council (ECNEC) has already approved the fivewell-drilling initiative as part of the government’s broader effort to boost local gas output and meet rising national energy demand.