Category: Energy and Power

The American Chamber of Commerce in Bangladesh (AmCham) has installed its new Executive Committee for the 2026-2028 term, with Syed M o h a m m a d Kamal of Mastercard Banglades h elected as President and Ala Uddin Ahmad, CEO of MetLife Bangladesh, as Vice President.

Reza Ur Rahman Mahmud, Managing Director of Philip Morris International Bangladesh, will serve as Treasurer.

The installation ceremony, held in Dhaka, marked the beginning of a new leadership chapter focused on strengthening U.S.Bangladesh trade and investment relations.

The new committee pledged to deepen bilateral economic ties, promote Bangladesh as an attractive investment destination, relaunch the U.S.

Trade Show, expand membership engagement and advocate for businessfriendly policy reforms.

The UNFCCC’s 2026 Ocean and Climate Change Dialogue has called for stronger integration of ocean, climate, and biodiversity policies to accelerate global climate action ahead of COP31.

Delegates stressed that protecting marine ecosystems and expanding ocean-based solutions are essential for achieving the goals of the Paris Agreement.

Participants emphasized the need for greater access to climate fi nance, enhanced international cooperation, capacity building, and improved governance to help countries implement oceanrelated commitments.

They also highlighted the importance of aligning national climate plans, biodiversity strategies, and adaptation policies to maximize environmental and economic benefi ts.

The dialogue concluded with growing support for stronger ocean-focused commitments at COP31, with delegates expressing optimism that the discussions will translate into concrete actions to strengthen climate resilience, protect marine biodiversity, and advance sustainable development.

Bangladesh Power Development Board (BPDB) has increased the monthly electricity allowance for its offi cers and employees, following the redetermination of the retail price of electricity.

‘The decision to increase the electricity allowance will come into effect from June 2026,’ according to a BPDB notifi cation.

According to the BPDB decision, offi cers and employees working regularly and on deputation at BPDB will receive an electricity allowance of Tk 3,584 per month.

The notifi cation said that as per the previous decision of the Ministry of Power, Energy and Mineral Resources and the decision of the 1414th General Board Meeting of BPDB, an amount equivalent to 400 units of electricity bill is being paid as electricity allowance to offi cers and employees.

But recently, Bangladesh Energy Regulatory Commission (BERC) has re-determined the retail price of electricity, so the amount of allowance has been increased in line with the current cost of using 400 units of residential electricity, it said.

PETRONAS Carigali has strengthened its upstream presence in Turkmenistan by signing a Production Sharing Agreement (PSA) for offshore Blocks 19 and 20 in the Turkmen sector of the Caspian Sea, securing a 100% participating interest in the new exploration acreage.

The company also signed a cooperation agreement to conduct 2D seismic surveys across the Northern Offshore Blocks to improve geological data and support a more comprehensive assessment of the region’s hydrocarbon potential.

In a parallel development, the governments of Malaysia and Turkmenistan signed a framework agreement to enhance long-term cooperation in the development of Turkmenistan’s hydrocarbon resources.

The partnership could eventually be expanded to include the development of the country’s giant Galkynysh gas fi eld.

The agreements reinforce PETRONAS’ strategy to expand its international upstream portfolio while supporting Turkmenistan’s efforts to unlock additional offshore oil and gas resources in the Caspian Sea.

An acute shortage of energy – particularly natural gas – remains the single-biggest obstacle to investment in Bangladesh, Executive Chairman of the Bangladesh Investment Development Authority (BIDA) Chowdhury Ashik Mahmud Bin Harun said recently.

‘The major issue is energy.

There is no scope for doubt about it.

Even from the government’s perspective, we know very well that the specifi c fuel in focus is gas,’ he said.

‘After that, you can raise the issue of electricity.’ The BIDA chief made the remarks while responding to a question on the key challenges facing investors in the country at a journalists’ workshop titled ‘Bangladesh’s Investment Flows and Investment Facilitation’, organized by BIDA at its headquarters in the capital’s Agargaon, where he was the chief guest.

‘If the energy constraint remains, no matter how many investment summits we hold, investors will not come,’ he said.

Bangladesh’s draft National Renewable Energy Development Strategy marks a signifi cant shift in the country’s approach to energy security.

The strategy recognizes it as a cornerstone of economic resilience, energy independence, and long-term sustainability.

The ambition is diffi cult to ignore.

Expanding renewable capacity by more than 10,000 MW within fi ve years would transform the sector and reduce its growing dependence on imported fossil fuels.

The emphasis on rooftop solar, private investment, fi nancial incentives, and grid modernization reflects a broader recognition that the future energy security will depend as much on innovation and market confi dence as on government planning.

Yet ambition alone will not guarantee success.

Bangladesh’s renewable energy sector has struggled for years with policy uncertainty, fi nancing constraints, institutional weaknesses, and delays in project implementation.

These challenges cannot be overcome through targets alone.

Investors will require clear regulations, transparent procurement, reliable payment mechanisms, and effi cient project approvals before committing substantial capital.

Equally important is the readiness of the electricity grid.

Expanding solar generation without adequate transmission capacity, battery storage, and demand management could create new operational and fi nancial challenges.

The draft strategy is therefore best viewed as a beginning rather than a destination.

The real test will lie in implementation.

If the government follows through with consistent policies, transparent governance, and sustained private sector engagement, the green pivot could become a defi ning chapter in Bangladesh’s energy transition.

If not, it risks joining a long list of ambitious plans whose promise was never fully realized.

Nearly 100 campaign groups recently called on COP31 climate summit co-hosts Turkey and Australia to ‘lead by example’ by addressing their reliance on planetheating fossil fuels.

Turkey is staging the UN climate talks in November but Australia will oversee the formal negotiations, in an unusual arrangement reached after both countries bid to host the conference The summit is taking shape as war in the Middle East drives up energy and commodity prices and highlights the vulnerability of fossil-fuel dependent economies to supply shortages.

Turkey and Australia have encouraged countries to embrace renewable energy as a bulwark against unreliable energy imports.

But in an open letter on Friday, dozens of non-governmental organisations urged Turkey and Australia to ‘address the number one cause of the climate crisis – the burning of coal, oil and gas’.

‘Action on fossil fuels must start at home,’ said Duygu Kutluay from Beyond Fossil Fuels, one of 94 groups to sign the letter to COP31 president Murat Kurum and negotiations chief Chris Bowen.

Bangladesh could earn nearly US$1.0 billion annually through carbon credit trading from its nationwide 250 million tree plantation program, according to a government report, highlighting a major opportunity to combine climate action with green economic growth.

Prime Minister Tarique Rahman offi cially launched the ambitious fi veyear programme on June 13, aiming to strengthen environmental protection and mitigate the impacts of climate change by planting 25 crore trees across the country.

According to the Climate Financing Budget Report, one of the initiative’s most signifi cant features is its potential to generate substantial carbon credits through largescale afforestation.

Under international carbon market mechanisms, designated plantation areas must be registered in advance and regularly reported to relevant international authorities and participating countries.

By increasing carbon sequestration and reducing net greenhouse gas emissions, the programme could create signifi cant fi nancial returns through carbon credit trading.

The number and mix of climaterelated fi nancial sector policies has continued to expand.

Between 2023 and 2025, their number grew by more than 25%, with transparency dominating the mix (78%), prudential measures on the rise (20%), and monetary policy tools remaining scarce (2%).

Against the backdrop of the large volume of traditional corporate bond issuance to energy and industrial sectors, the report points to untapped opportunities to transition fi nancial flows across geographies.

The Organisation for Economic Co-operation and Development (OECD) has published a report that tracks a variety of climaterelated fi nancial sector policies, assesses the degree to which fi nancial flows align with climate goals, and charts the landscape of climate metrics used in the fi nancial sector.

The report seeks to support investors and policymakers by identifying untapped opportunities to transition fi nancial flows.

The United States Energy Association (USEA) has released a new edition of its Global Briefi ng series, featuring Benjamin Dubertret, Minister Counselor for Economic Affairs at the French Embassy, who discussed expanding energy cooperation between France and the United States.

The briefi ng focused on strengthening bilateral collaboration in nuclear energy, France’s newly adopted energy law, and priorities for its 2026 G7 Presidency, including addressing global development fi nance challenges and securing critical mineral supply chains essential for the clean energy transition.

The discussion is part of USEA’s special interview series marking America’s 250th Anniversary, highlighting the evolution of international energy partnerships and the growing role of transatlantic cooperation in advancing global energy security and decarbonization