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Youth activists demand ending of fossil fuel financing

They urged for a climate-resilient and energy-secure Bangladesh for the future

Update : 03 Mar 2023, 04:49 PM

Youth activists in Bangladesh on Friday demanded that the government and investors end fossil fuel financing and reduce the country's reliance on fossil fuel imports, primarily LNG.

They urged for a climate-resilient and energy-secure Bangladesh for the future. 

Youths demanded an end to environmentally harmful activities, a redirection of fossil fuel investments to sustainable projects, and the expansion of renewable energy in this country, reads a press release issued on Friday.

Fridays for Future Bangladesh and YouthNet for Climate Justice made their pledges at a rally held in front of the National Press Club in the capital, as part of the global climate strike organized by the worldwide school student movement “Fridays for the Future” to reduce global carbon emissions and transition to renewable energy sources. 

The youth voiced solidarity in 26 districts of Bangladesh with the call as part of the global climate strike on the streets and online with the slogan “We Want Climate Justice” and #TomorrowIsTooLate. 

Youths call on critical stakeholders regarding the current electricity crisis in Bangladesh, highlighting the repercussions of importing expensive fossil fuels, such as LNG, which impose a significant financial burden on the nation.

Subsequently, they highlighted the escalating challenges posed by the rising cost of living, inflation, and frequent power outages. 

The youths strongly advocated increasing the proportion of renewable energy in the new power sector master plan to ensure national energy security and facilitate equitable transitions. 

They also demand that developed nations adhere to the Paris Agreement, limit the global temperature increase to 1.5°C, and that multinational corporations refrain from investing in fossil fuel power generation to reduce carbon emissions.

Sohanur Rahman, executive coordinator of YouthNet for Climate Justice, said: "Let's not wait for tomorrow to realize the urgency of ending our reliance on fossil fuels. The time for action is now. We must invest in renewable energy and demand proper compensation from polluting nations. The climate crisis is not just a disaster; it's a wake-up call for all of us." 

In addition, the youths criticize developed nations and institutions for making false pledges to reduce carbon emissions to combat climate change. 

The world is at a critical juncture due to the catastrophic effects of climate change, which the United Nations has designated as a global red alert, they said.

Prof Saleemul Huq, director of the International Centre for Climate Change & Development (ICCCAD), mentioned: "The climate crisis is a clear and present danger that demands action. The burden of this crisis falls disproportionately on the poor, while the rich remain its main perpetrators. We must act swiftly to reduce our dependence on fossil fuels and transition to renewable energy sources that are more sustainable and equitable.”

“The youth have taken up this challenge with conviction and determination, and I stand with them in their efforts to create a better future for all. It's time to move beyond words and take concrete actions to combat climate change and ensure a just and livable world for future generations," he added. 

Reiterating the fact, Prof Ahmad Kamruzzaman Majumder, chairman of Department of Environmental Science, Stamford University, mentioned: "Protecting the future of our youth requires urgent action towards reducing air pollution and mitigating climate change. We must recognize that these two issues are two sides of the same coin and require collective efforts from individuals, businesses, and financial institutions.  I urge private financial institutions to facilitate investments in a renewable energy revolution fully. Let us all work together to create a sustainable future for future generations." 

Youths also demanded justice for climate change and urged developed nations to implement a fast-track strategy for delivering compensation by operationalizing loss and damaged financial facilities for climate-vulnerable countries and providing funds for adaptation action on a priority basis. 

They demanded unconditionally cancel the Global South's financial debt and contributed to reparations for “Loss and Damage” to the most affected people and areas (MAPA). 

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