Category: Energy and Power

The world’s first commercial service offering carbon storage off Norway’s coast has carried out its inaugural CO2 injection into the North Sea seabed, the Northern Lights c o n s o r t i u m operating the site said recently. Northern Lights, led by oil giants Equinor, Shell, and T o t a l E n e r g i e s , involves transporting and burying CO2 captured at smokestacks across Europe.

The aim is to prevent emissions from being released into the atmosphere, and thereby help halt climate change. “We now injected and stored the very first CO2 safely in the reservoir,” Northern Lights’ managing director Tim Heijn said in a statement. “Our ships, facilities, and wells are now in operation.” In concrete terms, after the CO2 is captured, it is liquified and transported by ship to the Oygarden terminal near Bergen on Norway’s western coast.

It is then transferred into large tanks before being injected through a 110 kilometre (68-mile) pipeline into the seabed, at a depth of around 2.6 kilometers, for permanent storage.

The first CO2 injection into the Northern Lights geological reservoir was from Germany’s Heidelberg Materials cement plant in Brevik in southeastern Norway.

COP30, the UN’s climate change conference, is taking place this November inBrazil.It comes astheworldfacesthe increasingly devastating impacts of climate change and amid intense geopolitical turmoil.

A key task facing governments ahead of the conference is to submit new national climate plans, known as ‘Nationally Determined Contributions’ or ‘NDCs’. COP30 will likely also center around money, climate change adaptation, and the energy transition. With the US leaving the landmark Paris Agreement (for a second time), the conference will inevitably serve as a moment to take stock of how global climate efforts are proceeding in a highly challenging geopolitical context. What is a COP?

The ‘COP’ is the UN’s annual climate change conference.

It brings together nearly all countries in the world to negotiate the multilateral response to climate change and monitor progress made.

The word ‘COP’ is shorthand for ‘Conference of the Parties’, with the ‘Parties’ being the signatory governments to the UN Framework Convention on Climate Change (UNFCCC).

The ‘COP’ is the UN’s annual climate change conference.

It is shorthand for ‘Conference of the Parties.’ The first COP (COP1) took place in Berlin, Germany, in 1995.

The 30th COP (COP30) will be held in Belém, Brazil, from 10 to 21 November 2025.

The ‘Presidency’ of the COP rotates on an annual basis.

Brazil will preside over this year’s conference, andAndréAranha Corrêa do Lago, a Brazilian veteran climate diplomat, has been appointed COP30 President.

Brazil will formally assume the COP presidency from Azerbaijan (host of COP29) at the opening of the conference. Why is COP30 important?

Climate change is already causing severe devastationglobally, andastemperatures continue to rise, the risks are increasing too.

In the 2015 Paris Agreement, governments committedtolimitthe rise inthe global average temperature to ‘well below’ 2°C above pre-industrial levels, ideally 1.5°C. Progress towards these goalsis, however, way off track.

Every five years, the signatory governments to the Paris Agreement are requested to submit new national climate plans (Nationally Determined Contributions, NDCs).

These generally include a numerical target for how much a country should have reduced its emissionsby a certainyear(e.g,2030or2035).

SomeNDCs also contain adaptation measures and/or outline policies, strategies, and actions to promote low-emission development.

The idea is that, when put together, the NDCs should collectively be ambitious enough to keep warming in line with the goals of the Paris Agreement.

In 2025, a new round of NDCs is due.

Submitting these plans is arguably the most important task facing governments ahead of COP30, and the level of ambition of the NDCs will undoubtedly be one of the measures against which the success of the conference will be judged. Will countries’ NDCs be ambitious enough?

The formal deadline for submitting new NDCs was 10 February 2025, but 95 percent of governments missed it.

Since then, a handful of additional governments have submitted, but most have yet to do so – including major economies such as China and the EU.

Brazil is encouraging governments to publish theirplansby September2025,sothatthey can be incorporated into a stocktaking report that will be released ahead of COP30.

The lastsuch report was published in October 2024.

It is estimated that full implementation of the NDCs available at that point would lead to a 5.9 percent reduction in emissions by 2030, compared to the 2019 level.

For comparison, the UN’s Intergovernmental Panel on Climate Change (IPCC) estimates global emissions would need to fall by 43 percentby2030tobe inlinewiththe1.5°Ctarget.

There is,therefore, a largediscrepancybetween the targets needed and those that exist.

The NDCs submitted in the run-up to COP30 are unlikely to close this gap.

It will therefore be important for the conference to respond by setting out a pathway for accelerating climate action in the years ahead. What are the other key topics at COP30?

The money issue Developing countries need finance to reduce their emissions, adapt to the impacts of climate change, and deal with the devastation it is causing (known as ‘loss and damage’).

The provision of ‘climate finance’ therefore plays a critical role in the climate talks.

At COP29 in 2024, it was agreed that developed countries would ‘take the lead’ in mobilizing USD 300 billion per year by 2035 to support climate action in developing countries.

In addition, ‘all actors’ would work together to enable finance of at least USD 1.3 trillion annually – from all public and private sources – to flow to developing countries by that same year.

Azerbaijan and Brazil have been tasked with developing a roadmap to guide effortsto reach the USD 1.3 trillion.

This ‘Baku to Belém Roadmap’ will be released in October 2025 and discussed at a high-level event at COP30.

The roadmap is not subject to negotiation by governments, andthemeasuresitidentifieswill not be legally binding.

It does, however, have the potential to inject positive momentum into the climate talks and facilitate the delivery of the USD 1.3 trillion.

To be useful, the roadmap will need to be relatively detailed and speak to stakeholders within, as well as outside, the formal remit of the UNFCCC.

It will also be necessary to build confidence around itsimplementation. Promoting adaptation Astemperaturesrise,it grows evermore important to enhance resilience and adapt to the impacts of climate change.

The Paris Agreement established a ‘global goal’ on adaptation (GGA), but it was relatively vaguely defined, which limited its usefulness.

To addressthis, governments adopted a framework atCOP28toguide the implementationof the GGA.

At COP30, they will need to agree on indicatorsto track progress made.

Some governments and civil-society organizations are also pushing for a new ‘adaptation finance goal’ to be set at COP30, as the current one (agreed at COP26) expiresthis year.

Finally, the incoming COP30 Presidency is encouraging governments to submit ‘National Adaptation Plans’, to be used as ‘strategic roadmaps to build resilience in the years ahead’. What about transitioning away from fossil fuels?

Two years ago at COP28 in the United Arab Emirates, governments agreed to ‘transition away from fossil fuels in energy systems’ which was to be done ‘in a just, orderly and equitable manner . to achieve net zero by 2050 in keeping with the science’.

This commitment was made as part of the outcome of the first ‘Global Stocktake’ (GST) and was widely regarded as an important breakthrough.

At COP28, governments also committed to tripling renewable energy by 2030 and doubling the average annual rate of energy efficiency improvements globally within the same timeframe.

Akey question since then has been howto advance andmonitorthe implementationofthese goals,whichhas causedmajor controversydue to diverging national interests.

The topic will once again be on the table at COP30, but it remains unclear to what extent progress can be made.

Brazil hasindicated the conference could result in a roadmap to guide a ‘plannedandjusttransitiontoendfossilfuels’.

Ithas alsobeencommunicatedthatthe ‘Action Agenda’ (which brings together sub-national governments, civilsociety organizations, businesses, and other sub-national actors) should supportthe implementationoftheGST,including its commitments on the energy transition.

There is,moreover, anopportunity toutilizenegotiation tracks such as the ‘UAE dialogue on implementing the GST outcomes’, the ‘Just Transition Work Program’, and/or a possible COP30 ‘cover decision’ to advance the goals.

All thatsaid, arguably the most important thing is that governments include concrete and ambitiousmeasurestofurtherthe energy transition in their own new NDCs.

How is Trump affecting international climate diplomacy?

On his first day in office in January 2025, President Donald Trump initiated the process of withdrawing the US from the Paris Agreement, which he described as a ‘rip-off’ while pledging to ‘drill, baby, drill’.

Since then, the administrationhasundertakenfurthermeasureswithsignificantbearingonclimate change.

These include gutting substantial parts of the ‘Inflation Reduction Act’ and rescinding other environmentalregulations;withdrawing theUS from climate-related organizations and initiatives;proppingupthe coalindustry;undermining and censoring climate science; and dismantling the USAID.

TheUS is also using, orthreatening to use, varioustoolstodiscourageothernationsfrompursuing climate action.

The withdrawal of the world’s second-largest emitter – and itslargest economy – from global climate effortshassignificant consequences.US emissions arenowprojectedtofallmuchmore slowly than had previously been the case.

The US stepping back could also reduce pressure on other countries, not least in the Global South, to submit ambitious NDCs.

And then there is the financing aspect.

The US has cut its aid budget dramatically, and several other rich countries, such as the UK, France, and Germany, have announced they are making reductions too. Lower levels of climate and development finance, along with higher US tariffs, affect the ability of developing countries to pursue ambitious climate action.

It could also undermine trust among countries and make it more difficult to reach agreements at COP30.

However, so far, no other country has followed the US in withdrawing from the Paris Agreement. What about the Advisory Opinion from the ICJ – what impact might that have?

On 23 July 2025, the International Court of Justice (ICJ) issued its highly anticipated ‘Advisory Opinion’ on the obligations ofstates in respect to climate change.

The court found thatstates have far-reaching obligations under international law to protect the climate system and that the legal consequences of breaching such obligations could include making reparations.

The ICJ’s advisory opinions are not legally binding, but they have great legal weight and moral authority.

It is too early to know precisely what impact the recent ruling will have on the COP process, but it could be substantial.

For example, the ICJ found that the Parties to the Paris Agreement have a legal obligation to submit NDCs capable of making an ‘adequate contribution’ to the achievement of the 1.5-degree target, and that they must also put in place measures to enable the implementation of these plans.

This couldimpactNDCambitioninthe run-up to COP30.

Is there too much focus on the COPs?

Even before President Trump returned to the White House, the implementation of the Paris Agreement was way off track.

In light of this, wide-ranging discussions are taking place over how to reform the COP process to make it more effective. Proposals range from introducing voting rules to putting in place criteria for selecting COP hoststo streamlining negotiation agendas.

Brazil has communicated that COP30 should constitute the moment the world transitions to a ‘post-negotiation’phase, andthat effortsmust focuson’action’ and’implementation'(of commitments made) going forward.

In an interview on Chatham House’s The Climate Briefing podcast, the CEO of COP30, AnaToni, commentedthattheCOPsonly constitute a ‘moment in the year.’ She said what matters most is what governments, businesses, and citizens do during the rest of the time.

In this vein, Brazil has placed the concept of a global ‘mutirão’ – a global mobilization – at the heart of its diplomatic strategy.

The idea is to stimulate bottom-up global climate action across a range of actors, such as citizens and businesses.

BRAC Bank has extended landmark financing to MJL Bangladesh PLC for the acquisition of two ocean-going Aframax oil tankers the largest vesselsregistered under the Bangladeshi flag to date.

This transaction represents the largest single-ticket foreign currency (FCY) offshore banking term loan ever arranged by a local private bank in Bangladesh for this industry.

As part of the financing arrangement worth USD 95.77 million, MJL Bangladesh a leading provider of sea freight services to both domestic and international petroleum companies has already inducted ‘MT Omera Galaxy’, an Aframax-class oil tanker with a capacity of 115,600 dead weight tonnes (DWT), into its fleet.

The vessel isthe largest oceangoing ship to carry the Bangladeshi flag.

Building on the commercial success of this milestone, MJL Bangladesh is moving forward with the acquisition of a second Aframax tanker, ‘MT Omera Liberty’, currently under construction at a globally renowned shipyard.

The formal signing ceremony took place at Mobil House, Dhaka, on September 2, 2025, in the presence ofsenior officials from both organizations.

Dato’ Ir.

Ts.

Razib D a w o o d , Executive Director of ACE (left) and Armida Salsiah Alisjahbana, U n d e r – S e c r e t a r y General of the United Nations and Executive Secretary of ESCAP (right) during the MoU signing.

The ASEAN Centre for Energy (ACE) and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) have officially forged a strategic partnership to advance ASEAN’s energy cooperation through a MemorandumofUnderstanding (MoU) signed at the UN Conference Centre in Bangkok, Thailand, on 1 September 2025.

The signing ceremony took place in conjunction with Asia-Pacific Energy Week, hosted by ESCAP, which aims to strengthen regional cooperation through accelerated just energy transitions.

The MoU was signed by Dato’ Ir.

Ts.

Razib Dawood, Executive Director of ACE, and Armida Salsiah Alisjahbana, UnderSecretary-General of UN and Executive Secretary of ESCAP, representing their respective organizations.

F ebruary is the deadline set by the interim government of Professor Muhammad Yunus for holding parliamentary elections and handing over power to the elected people’s representatives. Yunus has promised to make next year’s vote free, fair, and festive.

Since the election roadmap was announced, the Nobel laureate has emphasized the importance of fulfilling his commitment to holding one of the country’s freest and fairest votes, to be remembered forever.

His press wing has reiterated that no power in Bangladesh can break the interim government’s vow to hold the balloting as per the schedule.

Instructions have already been given to the Election Commission to prepare for holding the vote, which, if held, will be the second such exercise in less than two years.

As we all know, the vote has to be held as the president dissolved the 13th parliament shortly after the fall of Sheikh Hasina’s Awami League-led government in the wake of the mass protests in August last year. Despite the government’s resolve, many in Bangladesh still have doubts about the elections being held on time or at all.

The political parties – minus the Awami League, whose activities have been suspended until the trial of its key leaders for crimes against humanity – have welcomed the announcement of the election roadmap, but the air of uncertainty is yet to clear.

The major players – BNP, Jamaat, and NCP – agree on the election schedule, but they have serious disagreements on how the July Charter would be implemented. Disagreements persist on the question of the professional representation (PR) system, which requires fundamental changes in the constitution.

BNP objects to PR either in a direct vote to elect the legislature or in electing the proposed Upper House. Converting the parliament into two Houses – Lower and Upper- is still on paper, and it’s far from being a reality. Yet debate on how the Upper House will be elected rages on, with the Consensus Commission finding it hard to bring the participating political parties to a consensus across the table. Jamaat, NCP, and several other parties insist that the legislature be elected through the proportional votes the contesting parties win in the election.

For example, if BNP gets 30 percent of the votes, it will get the same percentage of seats in the parliament.

The seats will thus be shared by the contesting parties in accordance with the number of votes they each poll.

The voters will cast ballots in favor of the party, not for any particular candidate.

The parties will distribute the seats among their chosen candidates on the basis of vote percentage.

This system, rare in any democracy, is complicated and entirely unknown to most of our voters.

However, it suits the smaller parties as it provides a step for them to get into the House, which, under the current system, remains an unreachable goal.

So when they press for the introduction of a PR system, there seems to be a ‘method in the madness’ syndrome. Last year’s political unity against Sheikh Hasina seems to be still strong, but questions about its solidity remain.

This has led to political uncertainty, deepened further by a deteriorating law and order characterized by mob violence.

Analysts join the political parties in the chorus for holding the general elections by February or risk plunging the nation into more chaos and into the darkness, not only politically but also socially and, most importantly, economically.

Under Yunus’s administration, the financial aspects of the economy are showing signs of a turnaround, but the growth has slowed down to 3.6 percent, with inflation showing no sign of a significant fall.

It has eased a bit, but more needs to be done to bring it under sustainable control.

The warning is that the country’s democratic aspirations will get a jolt if Yunus fails to hold the February polls. Preventive steps are urgent now before it gets out of hand.

Bangladesh’s reliance on liquefied petroleum gas (LPG) has grown rapidly in recent years as natural gas shortages intensify. Yet the policies guiding this sector remain fragmented and often misaligned with market realities. While the government is preparing a consolidated LPG policy to provide clarity, industry insiders stress that private operators, responsible for nearly 99% of supply, must play a central role in shaping it.

From infrastructure gaps to safety lapses, the LPG industry faces mounting challenges that demand urgent policy attention and regulatory reforms.

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Muntasir Alam, Country Manager for MJL (S) PTE. Ltd, sheds light on the state of LPG policies, safety issues, and the way forward in an interview with Energy and Power Editor Mollah Amzad Hossain. What is the status of LPG policies in Bangladesh, and how can they be improved?

The various policies related to LPG are now being combined into a comprehensive framework aimed at closing gaps and offering greater clarity.

This effort is being led by government policymakers.

However, it would be more effective if the private sector had greater involvement in drafting such a policy, since nearly 99% of Bangladesh’s LPG supply comes from private licensees. Developing infrastructure to import and distribute LPG to the last mile also requires joint efforts.

Freight remains the most critical cost component in importing LPG.

Ocean freight could be reduced significantly if imports were made in larger consignments, via VLGC carriers and refrigerated cargo, directly into importers’ jetties.

For this to happen, the river draft at Mongla and Chattogram must be increased.

Similarly, improved expressways and larger highways would allow safer, faster LPG distribution through bulk tankers and trucks carrying packed cylinders.

Globally, the availability of onshore refrigerated LPG terminals, along with sufficient draft for VLGCs, is key to building a cost-effective LPG supply chain.

Bangladesh is yet to build and commission such a terminal.

The country’s annual LPG consumption is now about 1.8 million tonnes.

But alongside this growth, accidents related to LPG are also increasing.

Are operators fulfilling their responsibilities properly?

What measures should be taken to prevent these accidents?

By law, licensees are responsible for LPG safety across the value chain.

However, there is no licensing requirement for entering the retail side of the business.

Anyone can become a retailer, provided they secure an NOC from the Department of Explosives if they plan to store more than 120 kg or 10 cylinders of 12 kg each.

In such an environment, licensees find it nearly impossible to identify, monitor, or guide retailers, let alone enforce safety.

That said, operators themselves are bound by strict safety standards.

Their licenses require periodic renewal, and regulatory bodies conduct physical inspections before granting renewals. What safety measures exist for LPG cylinders and accessories, and what risks persist?

Many believe that cross-filling contributes to accidents. Consumers also complain of poor quality and quantity, while allegations suggest some bulk LPG importers indirectly support illegal traders.

How do you respond?

In a compliant bottling plant, cylinders undergo physical inspections in line with international standards, the LPG policy, and Bangladesh’s Pressure Vessels Act.

Each cylinder is also tested using compact valve-checking machines, and filling units are designed to detect overfilling or underfilling. When such standards are ignored as in illegal cross-filling operations cylinders become accident-prone.

Another weak link is LPG accessories.

Although BSTI has developed standards for items such as hoses, regulators, and stoves, implementation remains patchy. Without quality control in these components, risks remain high. Cross-filling operators often acquire LPG through third parties beyond the control of licensees.

For instance, some individuals transfer LPG from large to small cylinders, even mixing sand or water to match weight.

Others use filling guns at auto-gas stations in broad daylight.

These practices are outside the operators’ control, and enforcement by regulators and law enforcement agencies is essential. Does Bangladesh have too many LPG operators?

Some argue that the number is disproportionately high compared to the market size, creating unhealthy competition. Do you agree?

Yes, the number of operators exceeds the market’s needs.

If you calculate the combined bottling and evacuation capacity, it is far higher than current daily demand, leaving many operators with idle capacity.

Instead of importing LPG in small consignments under limited-term agreements, if we imported the country’s monthly requirement through VLGC carriers into onshore terminals, costs would fall significantly.

The current fragmented import system makes operations less efficient and keeps prices elevated.

Many believe reducing transportation costs, especially in imports, could significantly lower LPG prices. What is the biggest barrier?

The biggest obstacle is infrastructure.

Bangladesh lacks an import terminal with sufficient river draft to handle VLGC cargo.

As a result, imports rely on smaller pressurized vessels carrying 2,500-5,000 tonnes per shipment, which drives up freight costs.

Building a terminal with VLGC-handling capacity is essential to lowering import costs.

The shortage of natural gas has reached a critical stage. LPG use in industries is rising. Can LPG help mitigate Bangladesh’s gas crisis in industries?

Yes, LPG can serve as a bridging solution.

Industries are under immense strain due to declining domestic gas and costly LNG imports. LPG provides a decentralized, reliable energy source that does not require pipelines, making it suitable for small and medium industries, industrial clusters, and export processing zones.

Although costlier than domestic gas, LPG is cleaner than coal or furnace oil and ensures continuity in export-oriented sectors such as textiles. With supportive policies such as fair pricing for industries, tax incentives, and investments in storage and distribution LPG could play a critical role in diversifying energy sources and reducing dependence on LNG.

Some argue that a fixed timeframe should be set to phase out CNG in transport and replace it with LPG. What is your view?

Natural gas and CNG are heavily subsidized. Whether to phase them out depends on the government’s broader energy strategy.

Should such a decision be made, auto-LPG is a ready and viable alternative.

How effective are current regulations in curbing crossfilling and unsafe practices?

LPG policies have improved significantly over the years, and regulators generally support licensees.

However, widespread cross-filling and unsafe practices demand stricter, more proactive enforcement on the ground not only by regulators but also by law enforcement agencies.

The future of the global energy landscape will be shaped by Asia and the Pacific.

Over the past two decades, our region has been the principal driver of global energy demand and emissions.

Energy has powered prosperity, lifted millions out of poverty, and transformed societies.

This progress, however, has come at a cost: widening inequalities, entrenched fossil fuel dependencies, and increasing climate vulnerability – which make achieving the Sustainable Development Goals (SDGs) and climate objectives challenging.

The Gaps We Must Close What will it truly take for the region to realize the energy transition and achieve SDG 7 – clean, affordable, reliable, and modern energy for all – by 2030?

The new Regional Trends Report on Energy for Sustainable Development shows that universal access to electricity is within reach. Yet other dimensions of sustainable energy require urgent acceleration. Clean cooking remains the most pressing challenge. Nearly one billion people in Asia and the Pacific still rely on traditional fuels, exposing households – especially women and children – to dangerous levels of indoor air pollution.

Renewable energy is growing, although the pace still falls short of what is needed to meet rising demand and lower emissions at the scale required. Per capita, Asia and the Pacific’s installed renewable energy capacity remains lower than in other parts of the world.

At the same time, energy efficiency continues to be underutilized, leaving untapped potential to reduce consumption, lower energy costs, and reduce carbon emissions.

These challenges are compounded by emerging pressures.

Securing access to and sustainably developing critical raw materials is essential for advancing energy transitions, while expanded regional power grid connectivity is crucial to improving energy security and keeping electricity affordable.

Rapidly growing sectors, such as data centers, also need to shift toward low-carbon pathways.

Meeting these priorities will demand strategic planning, coordinated action, and a strong commitment to fairness and equity.

Emerging Momentum The Asia-Pacific region has shown encouraging signs in recent years, with many emerging initiatives to draw inspiration from.

Subregional initiatives, including the ASEAN Power Grid and the Nepal-IndiaBangladesh trilateral power trade, are fostering cross-border electricity exchanges, improving reliability, and enabling greater renewable integration. China and India are at the forefront of renewables, while Pacific countries such as Fiji, Solomon Islands, and Vanuatu have set targets for 100 per cent renewable electricity by 2030.

Indonesia and the Philippines are expanding geothermal capacity.

Grid-scale battery storage in Australia is helping manage renewable fluctuations and strengthen system resilience.

Industries, urban centers, and the transport sector are also driving change. Countries are rapidly expanding the adoption of electric vehicles through investment and infrastructure. Japan and Singapore are improving building energy efficiency with strict standards and incentive programs, and the Republic of Korea is deploying smart grid technologies to optimize usage.

These examples illustrate that innovation, investment, and cooperation are creating the conditions for scalable energy progress across the region.

A Just Transition for All The energy transition is not only a technological shift, but also a social transformation.

For many, such as workers in fossil fuel industries, those in energy-poor households, and youths entering the job market, the transition will be a lived reality.

Reskilling, education, and social protection must accompany this shift, while creating decent jobs in the renewable and energy efficiency sectors. Women are disproportionately affected by energy poverty and remain underrepresented in the energy workforce and decisionmaking roles.

Unlocking women’s full participation in the sector is needed to accelerate innovation and inclusive growth.

A just energy transition must be gender-responsive, with policies and investments designed to close gaps in access, employment, and leadership.

Turning Ambition into Action Three ingredients stand out: Ambition in policy and planning. Countries need bold, integrated policies that align national energy plans with climate commitments, including net-zero targets.

This means setting higher renewable energy ambitions, phasing down coal dependency, embedding energy efficiency into every sector, and ensuring policies are just and inclusive.

Scaled-up investment. Delivering SDG 7 requires mobilizing trillions in sustainable energy investment.

Governments alone cannot bear this burden. De-risking mechanisms, innovative financing, and publicprivate partnerships will be critical to unlock capital flows.

Regional cooperation.

Regional grid integration and cross-border power trade, and shared approaches to the development of critical energy transition minerals and technology standards can create efficiencies and resilience.

The region has shown that transformative change is possible. Just twenty years ago, hundreds of millions lacked access to electricity.

Today, universal access is within reach, proving that the seemingly insurmountable gaps in clean cooking, renewable deployment, and efficiency can be overcome with decisive political will and bold action.

As AsiaPacific countries gather in September at the ESCAP Committee on Energy, the message is clear: we must act with urgency, ambition, and solidarity, or risk being locked in high-carbon pathways.

The decisions made in the coming years will define the region’s energy future well beyond 2030.

Like the Covid recovery fund, the Bangladesh Bank should form a renewable energy fund of at least Tk10,000 crore with support from the national budget to reduce lenders’ risks, speakers said at a roundtable on 23 August.

They stressed that the central bank alone cannot shoulder the burden of promoting sustainable financing in the country.

The government must step in with fiscal support, such as funds and incentives, and ensure the availability of credible data to scale up green energy and sustainability-linked projects.

The roundtable, organized jointly by Oxfam and The Business Standard under the former’s fair financing initiative, underscored the urgent need for largescale financing to meet Bangladesh’s renewable energy ambitions.

Hasan Mehedi, member secretary of the Bangladesh Working Group on External Debt, pointed out that the government has recently decided to generate 3,000MW of solar power through a Rooftop Solar Program within this fiscal year.

The plan requires $2.4 billion (Tk29,280 crore) in financing in just 10 months.

Also, the revised Renewable Energy Policy 2025 targets to achieve a 20% renewable energy share by 2030 and 30% by 2040, which would need $7.2 billion (Tk87,230 crore) investment in the next five years.

Power, Energy and Mineral Resources Adviser Muhammad Fouzul Kabir Khan recently said Bangladesh is moving firmly towards clean transportation. ‘With World Bank support, we are introducing 450 electric buses and building EV charging infrastructure at existing petrol and gas stations.

Investors in EV charging, EV imports, and operations will receive the government’s full support,’ he said.

The adviser said this at the ‘Fourth edition of the State of Investment Climate – Bangladesh webinar’, hosted by the Bangladesh Investment Development Authority (BIDA).

The webinar was moderated by Chowdhury Ashik Mahmud Bin Harun (Ashik Chowdhury), Executive Chairman (with the rank of State Minister) of BIDA and the Bangladesh Economic Zones Authority (BEZA). Dr.

Muhammad Fouzul Kabir Khan, a distinguished economist, academic, and former Secretary of the Power Division, outlined the government’s bold steps to transform energy security, transport efficiency, and logistics competitiveness.

On the transport and logistics sector, Dr. Khan said, ‘We are developing an integrated multimodal transport plan for Bangladesh.

By linking road, rail, waterways, and riverine communication with goods movement data, we will identify infrastructure gaps, reduce costs, and ensure faster and more efficient mobility.

This is the backbone of a globally competitive economy.’ On renewable energy and sustainability, Dr. Khan announced several breakthrough measures. ‘The Renewable Energy Policy 2025 has been approved, offering long-term tax holidays and reduced duties for solar technologies.

The National Rooftop Solar Program will equip all government offices, educational institutions, and hospitals with rooftop solar units under net metering,’ he added.

Standard Chartered Bangladesh, in collaboration with the international social-purpose organization Friendship, has launched an environmental initiative to provide clean energy, water, and climate resilience to the remote Notunchar Island in Kurigram. Notunchar, a sedimentary island located at the Northeastern point of Chilmari Upazila, remains disconnected from the national grid and basic infrastructure, including electricity, gas, and clean water, according to a press release issued by Standard Chartered Bangladesh recently.

Through this initiative, the island will be connected to a 70-kilowatt solar micro-grid, supported by a water treatment facility and a large-scale afforestation drive.

The solar plant, with an estimated energy output of 263 kilowatt-hours per day, will provide reliable power to 175 households, and multiple shops, schools, and religious institutions covering 875 beneficiaries.

Also, a water treatment plant – capable of supplying 60 liters of clean water per hour – will serve both the community’s drinking water needs and the solar grid’s maintenance requirements.