No coal-based projects after 2021

The government must announce that no new coal-based power project will be approved and financed after 2021 to achieve the renewable energy target, recommended Transparency International Bangladesh yesterday.

Besides, developed countries responsible for a lion's share of carbon emissions have to release money to the climate funds, including the Global Climate Fund (GCF), as compensation, not as loan or insurance money.

The organisation made these recommendations at a press conference centring the upcoming UN Climate Conference COP-26 slated for October 31 in Glasgow, UK.

"We need to formulate a clear roadmap nationally for renewable energy so that specific implementation of the commitments we have made nationally and internationally to move towards renewable power generation can be fulfilled," said Dr Iftekharuzzaman, executive director of TIB,.

Chairing the event, he also said, "The GCF is trying to provide funds as loan and encouraging privately owned companies, instead of putting importance on adaptation."

In the press conference, Md Mahfuzul Haque, programme manager (Climate Finance Policy Integrity Project) of the TIB, presented the position paper on behalf of the organisation with a 14-point recommendation.

The recommendations include: Bangladesh's raising demands to stop the unethical interference of fossil-fuel companies in setting policy on climate issues; ensuring transparency and accountability of developed countries in all mitigation activities to achieve the "net zero emissions" target by 2050; Climate Vulnerable Forum making concerted demands to provide adequate climate funding, technology transfer and technical assistance to developed countries to generate 100 percent of their energy from renewable sources by 2050.

Besides, TIB recommended a separate "Loss and Damage" fund in order to deal with the damage caused by climate change.

On the other hand, the organisation has also placed several recommendations for the Government of Bangladesh, including adoption of short-, mid- and long-term policies to increase the production of renewable fuels in the country.

TIB also recommended that Bangladesh plays a strong role under the leadership of the Climate Vulnerable Forum in collecting grants.