Stop financing dirty fossil fuel; invest in renewable energy instead: Speakers at virtual energy dialogue

Speakers at a virtual dialogue today urged foreign investors to stop financing in dirty coal- and LNG- fired power plants and invest in renewable energy instead.

The virtual dialogue, titled "Energy Investment in Bangladesh" was co-organised by 16 campaign groups, non-profit organisations and climate movement platforms from Bangladesh and across the globe.

The dialogue was inaugurated by renowned Bangladeshi energy campaigner and Professor of Economics at Jahangirnagar University, Anu Muhammad. In his inauguration speech, Anu Muhammad said Bangladesh is going towards a blind path of dirty energy whereas it had all the opportunities to start afresh with renewable energy.

"Bangladesh didn't have any coal or nuclear, so it could start very fresh, starting from renewables. But the tragedy is the government and their foreign guides went for fossil or dirty fuel for electricity generation while there were enough alternatives," he said.

"Our power system master plan (PSMP) is very interesting. There was no Bangladeshi or Bangladesh public consultation involved in its developing process -- everyone was from JICA and Japan", added Professor Anu. "When we look at the master plan - this is basically working for the interests of foreign financiers from Japan, China, etc. and their subcontractors."

The event was co-organised by Bangladesh Working Group on External Debt (BWGED), Asian Peoples Movement on Debt and Development (APMDD), BankTrack, CLEAN (Coastal Livelihood and Environmental Action Network), Green Camel Bell (GCB), Growthwatch, International Accountability Project (IAP), INSAF (Indian Social Action Forum), Japan Center for Sustainable Environment and Society (JACSES), KRuHA Indonesia, Market Forces Australia, NGO Forum on ADB, Phulbari Solidarity Group (PSG), Recourse, the Sunrise Project and Urgewald, Germany.

Yiting Wang from the Sunrise Project, Tonny Nowshin from Urgewald, health expert Dr Manan Ganguli, Rayyan Hassan from NGO Forum on ADB, Munira Chowdhury from Market Forces were among the speakers. The dialogue was facilitated by Hasan Mehedi and Vidya Dinker.