Leading environmentalists, researchers and energy experts on Wednesday called for urgent investment and stronger policy support for renewable energy, warning that Bangladesh must act fast to reduce its heavy reliance on imported fuel amid global uncertainties.
Speaking at a round-table discussion, they said the country’s import-dependent energy system has become increasingly vulnerable, further strained by the instability in the Middle East.
The speakers noted that renewable energy is now more viable than ever, with the cost of solar equipment and battery storage dropping by nearly half in recent years.
With timely and effective measures, the government’s target of generating 40,000 MW of renewable electricity by 2040 could be achieved as early as 2030, they said.
The event was organised by GreenWatch – an online portal and a monthly magazine in the same name – at the Jatiya Press Club.
Prof Jasim Uddin Ahmad, former Vice Chancellor of Jahangirnagar University, spoke as the chief guest while M Zakir Hossain Khan, Chief Executive Officer of the research organisation Change Initiative, presented the keynote paper at the event chaired and moderated by GreenWatch Online Editor Mostafa Kamal Majumder.
Among the special guests were prominent businessman Abdul Haque, Disabled Peoples’ International (DPI) President Abdus Sattar Dulal, and President of the Jatiya Press Club and Editor of daily Kaler Kantho Hasan Hafiz.
The speakers highlighted that 86% of electricity consumption in Bangladesh currently depends on fossil fuels, contributing significantly to the country’s worsening air pollution.
They said air pollution is reducing the average life expectancy in Bangladesh by 6-7 years, and causing the deaths of more than one lakh people every year.
According to the discussion, 46% of fossil fuel-based electricity comes from gas and 28% from coal, while Bangladesh remains 56% dependent on imported energy. In 2024 alone, the country spent around US$20 billion on energy imports.
The participants also noted that 23% of power plants have been shut down due to declining gas supply, while industrial production has dropped to 30-40% of capacity in many cases.
The speakers warned that the fuel oil crisis could drive up transportation costs, leading to a fresh rise in the prices of daily essentials.
Amid the global uncertainties, they stressed that Bangladesh must move quickly to strengthen domestic energy resilience.
The speakers pointed out that while renewable energy accounts for 51% of total energy in neighbouring India, and Pakistan has raised its renewable energy share to around 25%, Bangladesh’s renewable energy contribution remains at only 5%.
They also noted that India is actively subsidising its renewable energy sector.
In his keynote presentation, Zakir Hossain said imposing a carbon tax could help Bangladesh generate around Tk 10,000 crore annually, which could be invested in the renewable energy sector.
He added that additional financing could come through carbon trading, while innovative fund generation through the proper collection and use of Zakat donations could also support the energy transition.
Zakir Hossain also proposed the formation of a standing committee under the Prime Minister to monitor and accelerate the implementation of energy transition programmes.
The speakers observed that the energy sector currently receives only 2.9% of the national budget, which stands at Tk 7.9 trillion.
They stressed that Bangladesh has no alternative but to urgently increase budgetary allocation to the renewable energy sector in order to ensure energy security, reduce dependence on the volatile international market, and ultimately achieve energy sovereignty.