Chittagong Bureau 

 Conscious citizens and climate activists in Chattogram raise their voices against the Asian Development Bank’s (ADB) investments in fossil fuel and LNG (Liquefied Natural Gas) projects. On the occasion of ADB’s 58th Annual Meeting, ISDE Bangladesh, CLEAN (Coastal Livelihood and Environmental Action Network), and BWGED (Bangladesh Working Group on Ecology and Development) jointly organized a public awareness campaign in Chattogram, says a press release.  

S M Nazer Hossain, Vice President, CAB and Executive Director ISDE Bangladesh said., “The ADB has so far invested approximately USD 4.88 billion to generate 2,884.8 megawatts of electricity. Among this, 82.9% of the funds have gone into fossil fuel-based projects, only 2.55% into solar energy, and there has been no investment in wind energy. While investment per megawatt for fossil fuel projects stands at USD 2.04 million, for solar projects it is merely USD 0.51 million.”Speakers at the event also highlighted that the ADB has invested an additional USD 104.11 million to upgrade a 150-megawatt gas turbine power plant in Khulna into a 225-megawatt combined cycle plant. Yet, over the past 11 years, the government has had to spend BDT 182.4 billion on this project, despite no guaranteed gas supply. Similarly, in Khulna’s Rupsha area, an 800-megawatt LNG-based power plant has been constructed without securing gas supply, raising serious concerns that these facilities will become stranded assets. As a result, the government may be burdened with paying massive capacity charges without receiving any corresponding energy benefits. One climate activist pointed out, “At a time when the world is shifting towards renewable energy, ADB’s continued investment in fossil fuel projects exacerbates the climate crisis and poses a severe threat to climate-vulnerable countries like Bangladesh.”Osman Jahangir, Coordinator ODHIKER & Member Forum for Ecology and Development emphasized that sustainable development is only possible through investments in renewable energy. Dependence on fossil fuels not only leads to economic losses but also causes long-term environmental and social harm. They urged ADB to immediately prioritize renewable and environmentally friendly energy projects in Bangladesh and across South Asia.Youth Climate activist Sidratul Munthaha said lead-up to ADB’s 58th Annual Meeting, such protest actions would continue across Bangladesh and other countries, pressing ADB and other development institutions to recognize the urgency of climate justice and sustainable development in their investment policies.