Bangladesh is facing a complex transition from coal-based energy, said the Global Energy Monitor in its Boom and Bust Coal 2024 report published on 11 April.
This year’s report, published globally, sheds light on Bangladesh’s coal energy landscape and emphasises the importance of using renewable energy. It calls for a shift from coal-based energy to renewable energy sources.
The report highlighted Bangladesh’s economic burden due to its excessive reliance on imported coal amidst fluctuations in foreign exchange rates, alongside various countries around the world.
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The report further discussed the use of coal in Bangladesh, noting “a rush of coal plant commissionings marked the last few months of 2023 in Bangladesh”.
“1.9 GW of coal capacity came online, a record high since the country’s first coal-fired power station started operating in 2006, reads the report.
“The country’s coal plants depend heavily on imported coal … and much of its installed capacity was not fully used throughout the year as several power stations faced repeated shutdowns from fuel shortages,” it said.
The report also says Bangladesh has shown a trend of reducing proposed coal capacity since 2019, indicating a gradual shift towards cleaner energy sources.
“In 2023, little progress was made on coal proposals, which have been largely shrinking since 2019 and appea increasingly unlikely. The only proposed project that advanced was the government-backed Maheshkhali power station, which began pre-feasibility studies but had its expected start date repeatedly postponed,” reads the Global Energy Monitor report.
Flora Champenois, coal program director at Global Energy Monitor, said, “Coal’s fortunes this year are an anomaly, as all signs point to reversing course from this accelerated expansion. But countries that have coal plants to retire need to do so more quickly, and countries that have plans for new coal plants must make sure these are never built.
“Otherwise we can forget about meeting our goals in the Paris Agreement and reaping the benefits that a swift transition to clean energy will bring,” she added.
Sharif Jamil, member secretary of Dhoritri Rokhhay Amra (Dhora) and coordinator of Waterkeepers Bangladesh, said, “Bangladesh’s economy is significantly burdened by financing, fuel costs, and fluctuations in foreign exchange rates associated with the current operation of coal-based power plants.
“Even managing its existing coal plants at full capacity is becoming challenging for Bangladesh. Considering new coal plants or continuing old ones increases public health risks and disrupts our climate, which is utterly irrational,” he added.
In addition to Global Energy Monitor, the report’s co-authors are Centre for Research on Energy and Clean Air (CREA), E3G, Reclaim Finance, Sierra Club, Solutions for Our Climate, Kiko Network, Climate Action Network (Can) Europe, Bangladesh Working Group on External Debt (BWGED), Coastal Livelihood and Environmental Action Network (Clean), Waterkeepers Bangladesh, Dhoritri Rokhhay Amra (Dhora), Trend Asia, Alliance for Climate Justice and Clean Energy, Chile Sustentable, Polen Transiciones Justas, Iniciativa Climatica de Mexico, and Arayara.
Beyond Fossil Fuels also joined the Turkish version of the report.
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FROM TBS