Chattogram:Civic groups and environmental organizations in Chattogram have jointly called on the Asian Development Bank (ADB) to cease its investments in fossil fuel-based power projects, urging instead a transition toward renewable and sustainable energy solutions.
The demand was made during a public awareness program held in the Moizzartek area of Chattogram’s Karnaphuli Upazila. The event was jointly organized by local branches of ISDE Bangladesh, Coastal Livelihood and Environmental Action Network (CLEN), and Bangladesh Working Group on Ecology and Development (BWGED).
Speaking at the event, S.M. Nazer Hossain, Vice President of the CAB Central Committee and Executive Director of ISDE Bangladesh, stated, “To date, ADB has invested approximately USD 4.88 billion in power generation projects totaling 2,885 megawatts. Of this, 83% has been allocated to fossil fuel-based projects, whereas solar received just 2.55%, and wind energy received none.”
He added, “While the investment cost per megawatt for fossil fuel-based projects stands at USD 2.04 million, the same for solar energy is only USD 0.51 million, highlighting the inefficiency and unsustainability of ADB’s current energy investment policy.”
Osman Jahangir, Coordinator of ADHIKAR Chattogram, noted that ADB has invested an additional USD 104 million to upgrade a 150MW gas turbine plant in Khulna to a 225MW combined-cycle plant. “Yet, due to an uncertain gas supply, the project faces significant operational risks,” he said.
Jahangir also cited the 800MW LNG-based power project in Rupsha, which remains incomplete due to undelivered gas supplies, labeling such ventures as “stranded assets” with costly capacity charges for the government.
Sadirtul Muntaha, General Secretary of CAB’s Karnaphuli Upazila unit and a young environmental activist, said, “At a time when the world is moving toward renewable energy, ADB’s heavy reliance on fossil fuel investments is exacerbating the climate crisis and placing climate-vulnerable countries like Bangladesh in grave danger.”
Other speakers stressed the importance of investing in renewable energy to achieve sustainable development goals. They argued that continued dependence on fossil fuels will not only harm the environment but also cause long-term economic and social damage.
Organizers said similar awareness programs are being held across South Asia ahead of ADB’s upcoming 58th Annual Meeting. The goal is to pressure development banks and financial institutions to align their investment strategies with climate justice and sustainability.
Among others present were Raisul Islam, Program Officer at ISDE Bangladesh; Rasel Uddin, Mentor of Steps Towards Development, Chattogram; Arfin Sumon, President of Youth CAB Karnaphuli; and youth group members Jahir Uddin Himel, Sajjad Hossain Rony, Dolly Akter, Imtiaz Hossain Miraj, Sadiya Jahan Sithi, Zahedul Islam, and Muhibul Islam Muhib.
