Budget needed to ensure full RE capacity by 2050

Speakers at a programme on Wednesday underscored the need for special budget allocation in the national budget for FY2023-24 to accelerate steps to achieve the goal of 100 per cent renewable energy (RE) capacity by 2050 in Bangladesh.

They also called for making an “integrated national plan” to ensure energy security as it is now a critical concern for the country.

They came up with the remarks at a webinar ahead of the Conference on Bangladesh Energy Prosperity 2050 (BEP 2050). The event is set to take place at the Bangabandhu Military Museum in Dhaka on April 27-29.

Bangladesh Working Group on External Debt, Climate Parliament Bangladesh, The Earth Society, ActionAid Bangladesh, Bright Green Energy Foundation, Coastal Livelihood and Environmental Action Network, Center for Participatory Research and Development, Centre for Policy Dialogue, Change Initiative, Participatory Research and Action Network, Solis Power and Energy Limited and Waterkeepers Bangladesh are organising the conference.

Addressing the webinar, Chairperson of the Parliamentary Standing Committee on Information Ministry Hasanul Haq Inu said a special budget allocation is needed in the upcoming budget to attain the goal of 100 per cent RE capacity by 2050.

“It’ll be difficult to achieve 100 per cent renewable energy or alternative fuel from current fossil fuel system. Budget alloca-tion is critical for this, and we must focus on allocating the necessary resources to accelerate this transition. Additionally, reducing foreign energy dependency and ensuring national security is necessary for Bangladesh,” he added.

He said there is no alternative to the RE system to ensure sustainable economic development and security and protect the environment. “So, an integrated national plan is urgently needed.”

“Ensuring energy security is a critical concern for Bangladesh as we strive to become an upper middle-income country by 2040. However, the conference will outline a future roadmap for expanding and transforming our renewable energy capac-ity into a fully sustainable energy system inclusively aligned with our national policies,” Inu also said.

Saber Hossain Chowdhury, the chairperson of the Parliamentary Standing Committee on the Ministry of Environment, For-ests and Climate Change, said, “As global communities face challenges of sustainable development and climate change, it is essential to focus on national and regional cooperation through policy coherence and alignment.”

“Hence, we must focus on science and adopt our policies such as the Integrated Energy and Power Master Plan (IEPMP) so that it fosters growth and development for Bangladesh and meets our required demands and qualify the process for the plan,” he said.

Saber added that the South Asian countries are most at risk of climate change and that is why regional cooperation is very important.

Climate Parliament Bangladesh Chairperson Tanvir Shakil Joy said the government is implementing the “Mujib Climate Prosperity Plan” to move Bangladesh from climate risk to sustainable climate prosperity. “We hope that we will get various recommendations from the three-day conference which will help to ensure 100 per cent renewable energy by 2050.”

Bangladesh Poribesh Andolon (BAPA) General Secretary Sharif Jamil said there is a big gap between the plan and implemen-tation in the country and that should be addressed.

Energy expert M Zabir Hossain Khan said that international investors are moving to invest in the RE sector leaving fossil fuel. This sector in Bangladesh needs huge investment. “Finance and right time decision are important for sustainable de-velopment.”

CPRD Chief Executive Md Shamsuddoha, energy and climate experts Ziaul Hoque Mukta and Hasan Mehedi, among others, also spoke.