Category: Energy and Power

Transparency International Bangladesh (TIB) Executive Director Dr Iftikharuzzaman has said more than 50 per cent of losses in projects under the government’s climate change fund involve political connections. The nature and scale of irregularities in this sector show it has emerged as a specialized area of corruption facilitated by political collusion. Various stakeholders, including the chairman and members of the Bangladesh Climate Change Trust (BCCT) board, politically influential groups, some implementing officials, and contractors or executing agencies, have abused power and engaged in illegal transactions, taking corruption to new heights. Over Tk2,000 crore has been embezzled through irregularities and corruption in this fund, said Dr Iftikharuzzaman. He made the remarks at a recent press conference in Dhaka.

tIB’s Advisor and Executive Management Professor Dr Sumaiya Khair and Research and Policy Department Director Muhammad Badiuzzaman attended the event. Senior Research Fellow Md Mahfuzul Haq and Research Associate Md Sahidul Islam presented a research report titled ‘Challenges and solutions for governance in climate finance in Bangladesh’, moderated by Outreach and Communication Department Director Mohammad Touhidul Islam.

A climate impacts intensify and global politics grow increasingly fractured, leaders gathered in Belém with a single message: the world is running out of time. What was meant to be a moment of shared ambition quickly became a sobering reminder of the widening gulf between scientific reality and political will. Hosted just days before COP30, the Belém Leaders’ Summit sought to revive momentum for climate justice, overhaul the global finance system, and rally support behind the 1.5°C goal. Yet the meeting unfolded under the shadow of absent major emitters and years of unfulfilled financial promises, leaving attendees torn between urgency and frustration.

even so, the summit delivered a clear call: without a fundamental reset in climate finance and stronger commitments from the world’s wealthiest economies, the Paris Agreement’s core ambition will remain out of reach.

the Belém Leaders’ Summit brought together heads of state, ministers, and global institutions in an urgent appeal for climate justice, financial transformation, and a renewed commitment to the 1.5°C goal. Against the backdrop of rising emissionsand growing geopolitical fragmentation, leaders warned that the future of the Paris Agreement depends on fixing the world’s broken climate finance system.

a Summit Framed by Crisis and Opportunity Opening the summit, Brazilian President Luiz Inácio Lula da Silva called Belém ‘a turning point for fairness,’ urging nations to resist climate denialism and political paralysis. ‘The Amazon is not just a forest – it is a warning.

either we act together now or we will fail together,’ Lula declared. Leaders from the Global South pressed wealthy nations to finally deliver longpromised financing.

the summit’s central theme – a global climate finance reset – dominated discussions, linking mitigation, adaptation, and loss and damage to a broader agenda for debt relief and systemic reform. Key Financial Announcements and Pledges 1. Brazil and G20 Proposal for a Global Climate Finance CompactSupported by France, Kenya, and Barbados, Brazil announced backing for a proposal to: ? Triple multilateral development bank (MDB) climate lending by 2030 ? Mobilize USD 500 billion annually in public finance ? Introduce global climate solidarity levies, including aviation and shipping taxes 2.

european Union Pledge The EU committed an additional pound 8 billion over five years for adaptation and loss and damage, stressing that ‘public finance must multiply, and private finance must not replace responsibility.’ 3.

african Leaders’ Demands for Debt Relief Several African heads of state called for cancellation of ‘unpayable debt,’ arguing that interest payments are choking climate investment and trapping vulnerable economies. 4. Small Island States (AOSIS) Statement AOSIS demanded a stand-alone Loss and Damage Fund replenishment mechanism, noting that ‘current pledges cover less than 1% of the real need.’ 5. Latin America Coalition for Forest Protection Brazil, Colombia, Peru, and Congo committed to a joint Amazon-Congo rainforest pact and urged donors to establish a USD 20 billion per year funding window for forests and nature. Climate Finance Reset Dialogue: A Central Pillar of the Summit During the high-level dialogue, leaders described the global finance system as ‘structurally failing’ and ‘disconnected from climate reality.’ Economists highlighted that developing countries need USD 3.0 trillion annually by 2030 – far beyond what current commitments provide.

uN Secretary-General António Guterres issued a stark warning: ‘Delay is death. The planet cannot afford another decade of excuses. Wealthier nations must pay their fair share.’ Political Significance: High Expectations, Deep Divisions Despite powerful rhetoric, disagreements over fossil-fuel phaseout timelines, conditional finance, and carbon market rules prevented a unified outcome. Still, negotiators say the Belém Leaders’ Summit achieved the following: ? Restored some trust after the collapse of ambition at COP29 ? Put finance, justice, and systemic reform at the center of COP30 ? Increased pressure to deliver a meaningful New Collective Quantified Goal (NCQG) Yet it remains unclear whether these signals will translate into binding commitments before the closing plenary. Conclusion Days before COP30 began, Brazil broke with convention by organizing a Leaders’ Summit to galvanize high-level political guidance and secure stronger climate finance commitments, especially to support the 1.5°C goal and mobilize new contributions to the Loss and Damage Fund. Brazil also sought backing for its USD 10 billion ‘Tropical Forests Forever Fund (TFFF),’ ultimately securing USD 5.6 billion in pledges. However, no new commitments were made for the Loss and Damage Fund.

the absence of heads of state from major global emitters – including the United States, China, Russia, and India, which together account for half of global emissions – cast a deep shadow over the proceedings. Leaders from the Global South stressed that more climate finance is essential to confront escalating impacts, but leaders from the Global North largely pointed to their domestic transition plans without offering new international funding.

experts say the summit leaned heavily on political messaging while sidelining scientific urgency. Despite repeated IPCC warnings, major historical and emerging emitters continue slow-walking emissions cuts, putting the world off track for netzero by 2050. Civil society groups underscored these concerns, though wealthy nations paid little heed. While Brazil invested heavily in climate diplomacy throughout the year, the outcomes of the Leaders’ Summit suggest that this effort has not yet convinced the Global North to meaningfully scale up climate action.

as COP30’s negotiations begin, they do so under the long shadow of unmet expectations from Belém. Whether COP30 can turn political signals into real action will only become clear once the negotiations conclude.

As part of Summit’s commitment to improving the livelihoods of local c o m m u n i t i e s , the largest i n f r a s t r u c t u r e c o n g l o m e r a t e of Bangladesh has committed to extending its Livelihood Enhancement Plan (LEP). Building on the success of the first phase of LEP, SLNG has extended the project for an additional year, running till September 2026.

the first phase of the Livelihood Enhancement Plan (LEP) was implemented from 2020 to 2024 in partnership with Young Power in Social Action (YPSA). SLNG provided skills development for 1,591 beneficiaries, and grants of about Tk 1.0 crore were disbursed. The individuals are primarily small-scale fishermen operating boats from the areas of Ghotibhanga, Sonadia, Tajiakata, and Nayapara. Men received vocational training on boat repair, along with toolkits, earning an average of Tk 9,000 to 12,000 per month. Similarly, women were given training on tailoring and electric sewing machines. SLNG undertook a comprehensive renovation of the Sonadia Government Primary School of about Tk 40 Lakh and handed it over to the Upazila Education Officer (UEO).

A massive Russian attack hit Ukraine’s energy infrastructure, prompting power cuts in several regions, Kyiv’s energy minister said recently. Moscow has in recent months escalated its attacks on energy infrastructure in Ukraine, damaging natural gas facilities which produce the main fuel for heating in the country.

experts have said Ukraine risks heating outages ahead of the winter months. ‘The enemy is massively attacking Ukraine’s energy infrastructure again. Because of this, emergency power outages have been introduced in a number of regions of Ukraine,’ minister Svitlana Grynchuk wrote on social media, without specifying where. ‘Emergency power outages will be canceled after the situation in the energy system stabilizes,’ she said.

The Energising D e v e l o p m e n t (EnDev) program, implemented by the Deutsche Gesellschaft fr I n t e r n a t i o n a l e Zusammenarbeit (GIZ) GmbH, recently hosted a ‘Knowledge Dissemination Workshop on EnDev’s 16Year Journey’. The event brought together government officials, private sector representatives, development partners, NGOs, and academia to celebrate EnDev Bangladesh’s longstanding contribution to expanding access to clean, reliable, and affordable energy. Since its inception in 2009, EnDev Bangladesh, implemented in partnership with the Ministry of Power, Energy and Mineral Resources (MoPEMR), has reached over four million people across the country with modern energy solutions. The program’s interventions have improved energy access for rural, peri-urban, and underserved communities, contributing significantly to Sustainable Development Goal 7 – Affordable and Clean Energy.

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.