Bangladesh to cut coal consumption, shift to renewable energy: minister

Bangladesh will phase down coal use in the power sector and place greater emphasis on renewable energy as part of the efforts to combat change, said Foreign Minister AK Abdul Momen.

He made the remarks at a media briefing on Bangladesh's participation in a summit on climate change at the invitation of US President Joe Biden on Friday.

Responding to a question on carbon emissions from coal-fired power projects, the minister said, “We took on a few coal-based projects. In the future, we will reduce the number of coal-based projects we undertake. We are moving towards renewable energy."

Highlighting Prime Minister Sheikh Hasina's calls for foreign investment in the renewable energy sector, Momen said, "The prime minister has said both public and private sectors need foreign investment in this regard."

"At the same time, the international financial institutions are providing low-interest loans," he said.

As president of the Climate Vulnerable Forum (CVF), Prime Minister Sheikh Hasina addressed the two-day virtual summit on Thursday.

She called on world leaders to take action on reducing carbon emissions and climate financing.

An annual target of $100 billion should be ensured and balanced 50:50 between adaptation and mitigation measures with special attention to the vulnerable communities while pursuing loss and damage, Hasina suggested.

“Major economies, international financial institutions and private sectors should come forward for concessional climate financing as well as innovation and focus is needed on green economy and carbon-neutral technologies with the provision of technology transfer among nations.”