Category: Energy and Power

Calls to hold fossil fuel companies fi nancially accountable for climate damage are gaining global momentum, with campaigners, journalists and civil society leaders urging governments to make major polluters contribute more to climate action and recovery.

Speaking at a ‘Make Polluters Pay’ event during London Climate Action Week, representatives from climate organizations highlighted growing support for measures such as windfall taxes on oil and gas profi ts, closing tax loopholes, and expanding climate litigation against fossil fuel companies.

The event was organized by 350.org and Stamp Out Poverty and chaired by Climate Home News journalist Megan Rowling.

Participants argued that while climaterelated disasters and energy price volatility continue to affect households and vulnerable communities, many fossil fuel companies have continued to report substantial profi ts.

According to 350.org’s Out of Pocket report, an estimated US$12 trillion flows annually to the fossil fuel industry through subsidies, tax incentives and unaccounted climate damages-far exceeding current global climate fi nance.

Speakers said recent developments, including climate superfund laws in parts of the United States, windfall taxes in Europe, and climate-related legal cases in several countries, reflect a growing international effort to strengthen corporate accountability for emissions and climate impacts.

Campaigners also stressed that revenues generated through such measures could help fi nance clean energy deployment, climate adaptation, and resilience-building in developing countries and vulnerable communities.

They emphasized that communities most affected by climate change often contribute the least to global emissions but bear the greatest social and economic costs.

The discussion concluded that making major polluters contribute to climate solutions is increasingly becoming part of mainstream policy debates, with advocates calling for stronger international action to ensure climate fi nance supports a just and equitable energy transition

Finnish technology company Wärtsilä has successfully demonstrated what it describes as the world’s fi rst large-scale engine operating entirely on 100% hydrogen, supplying electricity to Spain’s national grid from its test facility in Bermeo.

The milestone marks a signifi cant advance in hydrogen-based power generation, proving that large engine systems can run exclusively on hydrogen under real grid conditions.

The demonstration features Wärtsilä’s 31H2 engine, which is currently undergoing performance validation.

According to the company, the hydrogen-powered engine is designed to provide flexible, dispatchable electricity that can help balance intermittent renewable energy sources such as wind and solar.

Green hydrogen also offers long-duration energy storage while producing no carbon emissions at the point of use

Bangladesh needs policy reforms, lower taxes and duties, and easier access to fi nancing to accelerate the growth of its renewable energy sector, experts said, adding that Pakistan’s recent ‘solar revolution’ offers valuable lessons for expanding rooftop solar and distributed power generation in Bangladesh.

The observations were made at a dialogue titled ‘Pakistan’s Solar Revolution: Lessons for Bangladesh from a National Budget Perspective,’ organized by the Centre for Policy Dialogue (CPD) at a hotel in the capital recently.

Speakers at the event said Bangladesh has already made a political commitment to transition towards renewable energy, which is a positive development.

However, signifi cant structural and institutional challenges continue to hinder effective implementation.

CPD Research Director Dr.

Khandaker Golam Moazzem said Pakistan’s rapid expansion of solar power had transformed the country’s electricity sector within a short period.

‘Bangladesh can also reduce its dependence on fossil fuels and make more effective use of renewable energy resources,’ he said.

The Centre for Policy Dialogue (CPD) has welcomed several renewable energy incentives proposed in Bangladesh’s FY2026-27 national budget but cautioned that continued fi scal advantages for fossil fuels could undermine the country’s long-term energy transition goals.

CPD Senior Research Associate Helen Mashiyat Preoty presented these observations in a paper titled ‘Proposed National Budget for FY2026-27: What is There for the Power and Energy Sector?’ at a discussion held at the organization’s Dhanmondi offi ce on Wednesday.

The session was chaired by CPD Research Director Khondaker Golam Moazzem.

The proposed budget allocates Tk 17,345 crore to the Ministry of Power, Energy and Mineral Resources, representing a modest 2.3% increase from the revised FY2025-26 budget.

Of this amount, Tk 17,193 crore is allocated for development expenditure, while Tk 152 crore is designated for operational expenditure, which has increased by 7.8%.

However, CPD highlighted a concerning long-term trend: the ministry’s share of the national budget has steadily declined from 6.87% in FY2015-16 to 1.85% in FY2026-27.

The Power Division received Tk 14,996 crore, a 3.9% decrease from the revised allocation, while the Energy and Mineral Resources Division saw a signifi cant 72% increase to Tk 2,349 crore, mainly due to higher development spending.

The United Nations has unveiled preliminary proposals under its UN80 reform initiative to strengthen global environmental governance by improving coordination across climate, biodiversity, and sustainable development efforts.

A draft assessment, jointly led by the UN Framework Convention on Climate Change (UNFCCC) and the UN Environment Programme (UNEP), identifi es fragmentation in environmental science, governance, and implementation, while recommending closer cooperation among UN agencies and multilateral environmental agreements.

The report also proposes enhancing the role of the UN Environment Assembly (UNEA), strengthening coordination mechanisms, and introducing AI-enabled support centers to help countries implement environmental commitments more effectively.

It emphasizes greater policy coherence, improved access to fi nancing, and stronger engagement with the private sector to accelerate sustainable development

PTT Oil and Retail Business Public Company Limited (OR), Thailand’s leading energy and lifestyle retailer, has unveiled its OR 2030 Goals, outlining an ambitious sustainability roadmap focused on inclusive economic growth, community development, and environmental stewardship amid the global energy transition.

The new strategy is built around the People, Planet and Performance (3Ps) framework and sets three key targets by 2030: supporting more than one million partners, employees and community stakeholders, improving the quality of life for over 12 million people across 17,000 communities, and cutting greenhouse gas emissions by more than one-third from 2022 levels, while maintaining its longterm goal of achieving Net Zero emissions by 2050.

The announcement follows OR’s recognition as the No.

1 company in the retail industry in the SandP Global Sustainability Yearbook 2026 for the third consecutive year.

Japanese power utility JERA has signed longterm charter agreements with Mitsui O.S.K.

Lines (MOL) and NYK Group for four very large ammonia carriers to support the Blue Point ammonia project in Louisiana, United States.

Under the agreements, MOL and NYK will each provide two ammonia carriers, marking the world’s fi rst long-term deployment of very large gas carriers (VLGCs) dedicated to ammonia transportation.

The vessels will transport low-carbon ammonia from the Blue Point project, which is expected to begin production in 2029 with an annual capacity of 1.4 million metric tons.

JERA plans to use the fuel at its Hekinan Thermal Power Station to co-fi re ammonia with coal, supporting Japan’s decarbonization goals and the development of a commercial-scale lowcarbon ammonia value chain

Europe’s installed energy storage capacity has exceeded 100GW for the fi rst time, surpassing the region’s nuclear power capacity and marking a major milestone in the clean energy transition, according to the 10th edition of the European Market Monitor on Energy Storage (EMMES) released by LCP Delta and Energy Storage Europe.

The report said Europe added a record 13.5GW/26.4 GWh of electrochemical energy storage in 2025, increasing total installed storage capacity across all technologies to 102.7GW.

Behind-the-meter storage reached 30.2 GW/46.2GWh, driven by strong demand in Germany, Italy, the Netherlands, Austria, and the United Kingdom.

The expansion has been fueled by rising adoption of solar-plus-storage systems, dynamic electricity pricing, and growing electrifi cation of homes and businesses.

Meanwhile, utility-scale, front-ofthe-meter battery storage climbed to 18.5GW/34.4GWh, with signifi cant growth in the United Kingdom, Italy, Poland, Belgium, Bulgaria, and Spain through capacity markets and dedicated storage support schemes.

Bangladesh has sought Trkiye’s support in strengthening climate resilience and expanding educational opportunities for homeless street children as part of efforts to address key social and environmental challenges. The request was made by State Minister for Foreign Affairs Shama Obaed Islam during a meeting with a delegation from the Turkish Cooperation and Coordination Agency (TIKA), led by Vice President Dr. Ali Ercan, at the Ministry of Foreign Affairs in Dhaka recently. During the discussions, the state minister highlighted the need for specialized cooperation in implementing education programs for vulnerable street children and supporting sustainable climate adaptation initiatives in regions most exposed to the impacts of climate change

Environment, Forest and Climate Change Minister Abdul Awal Mintoo held a courtesy meeting with Michael Miller, Ambassador of the European Union to Bangladesh, at the Bangladesh Secretariat recently. The meeting focused on strengthening cooperation between Bangladesh and the European Union in addressing climate change, advancing the green energy transition, and promoting environmental sustainability.

the two sides exchanged views on a wide range of issues, including the Green Climate Fund (GCF), climate ?nance, expansion of renewable energy, carbon credit mechanisms, the circular economy, green energy transition initiatives, and preparations for the upcoming COP31.

eU Ambassador Michael Miller praised Bangladesh’s initiatives in environmental protection and climate action. He expressed the European Union’s interest in expanding cooperation with Bangladesh on green energy transition and climate adaptation programs.