Syeda Rizwana Hasan, Adviser to the Ministry of Environment, Forest and Climate Change, emphasized the critical importance of energy transitions and climate financing for Bangladesh's sustainable development.
Speaking as the Chief Guest at the session titled "Pathways to tiripling Renewables in South Asia" during the World Climate Conference (COP29) in Baku, Azerbaijan, she stated, The government is revising its energy policies to transition from fossil fuel-based energy to renewables.
She said that the high import tariffs are being reconsidered and foreign investments in solar energy are being encouraged.
With air pollution largely driven by power plants, now is the ideal time for Bangladesh to invest in renewable energy.
She highlighted that rooftop solar installations could meet up to 40 per cent of the nation's renewable energy needs, while underutilized lands, including tea estates and government-owned barren lands, can be leveraged for renewable energy projects.
She further added that Bangladesh is exploring regional hydropower opportunities from Nepal and Bhutan through India and is keen to establish a regional transmission system to integrate solar and wind energy efficiently.
Earlier, at the session titled "Bilateral with LDC Ministers on Mitigation" at the same conference, Rizwana Hasan stressed the urgent need to close the emissions gap within this decade to limit global warming to 1.5°C. She noted achieving this target requires a 43 per cent reduction in global greenhouse gas emissions by 2030 and 60 percent by 2035 relative to 2019 levels, aiming for net-zero emissions by 2050."
She also called for enhanced international cooperation and support for implementing conditional Nationally Determined Contributions (NDCs) of Least Developed Countries (LDCs).
The Mitigation Work Programme must facilitate the mobilization of financial resources and investments to meet these targets.
Global dialogues must unlock barriers to accessing climate finance. If emissions continue to rise, the cost of adaptation will surpass our capacity to respond, she warned.
