The International Monetary Fund's (IMF) $4.7 billion loan is mainly to ease the pressure on Bangladesh's current account balance through various reform measures. One of the important areas of reform is to address the challenges concerning clean energy and climate change.
On March 20, the United Nations’ top experts on climate science released a synthesis report on climate change. In it, the Intergovernmental Panel on Climate Change (IPCC), the world’s peak climate science body declares that we have fallen dangerously behind in trying to control climate change as our greenhouse gas emissions continue to grow instead of decline
Bangladesh has a potential to secure around $38.44 billion funding from different international financiers against a requirement of $26.5 billion to reach the 40% renewable energy goal by 2041, found a report by Change Initiative, a renewable energy research organisation. The country, however, received $6.71 billion in the renewable energy sector from national and international sources between 2016 and 2022, stated the report.
Welcome to the Bangladesh Power Pathways Newsletter which tracks the narrative and progress in the energy and power nexus of Bangladesh. This monthly newsletter seeks to provide an overview of the discourse in the country’s energy/climate sector.
Bangladesh, like many other net-energy-importing countries, has been facing persistent high inflation in the last one year of the Russia-Ukraine war. The inflation in our domestic market is largely related to the supply and prices of different types of fuel (e.g. gas, diesel, octane, furnace oil, LNG and coal) used in major economic activities, which are significantly affected due to the massive disruptions in global energy supply chain caused by this war.
Renewable energy refers to the use and development of natural energy sources, such as solar, wind, and hydro-electric power which can provide a more stable and reliable source of power, particularly in countries like Bangladesh that are prone to natural disasters such as cyclones and floods.