South Asia stands on the brink of transformation as it aims to triple its renewable energy capacity by 2030, requiring substantial funding estimated at $625 billion. This push for greener energy marks an urgent response to the region's pressing energy needs and climate obligations, particularly as it currently grapples with low per capita electricity consumption, which sits at only 656 kilowatt-hours (kWh)—74% below the average for developing Asia and 80% less than the global average.
At the heart of this discussion is Syeda Rizwana Hasan, adviser to the Ministry of Environment, Forest, and Climate Change of Bangladesh. Recently speaking at the "Pathways to Tripling Renewable Energy in South Asia" session during the Conference of Parties-29 (COP29) held in Baku, Azerbaijan, she championed the urgent need for energy transition and enhanced climate financing as keys to Bangladesh's sustainable development. The country is currently revising its energy policies to shift from fossil fuel dependency to renewable sources, driven partly by the urgent need to address air pollution from energy plants.
"The time has come for Bangladesh to invest heavily in renewable energy measures," Rizwana asserted, highlighting how rooftop solar energy projects could meet up to 40% of the nation’s renewable energy requirements. She drew attention to underutilized lands, including tea estates and barren government properties, as potential sites for energy generation. This not only aims to bolster the country's energy independence but also to promote environmental sustainability.
Prospects for regional collaboration are also on the table. Bangladesh is actively exploring hydropower options from both Nepal and Bhutan, seeking avenues through India to create mechanistic ties for sharing energy resources. Hasan stressed the importance of establishing regional transmission systems to enable efficient integration of solar and wind energy across South Asian nations.
The discussions at COP29 carried significant weight as they underlined the necessary balance between addressing immediate energy requirements and long-term commitments to reducing greenhouse gas emissions. Rizwana emphasized the need to close the emissions gap markedly by achieving a required 43% reduction by 2030 and even more ambitious targets of 60% by 2035, relative to 2019 levels.
Further, she highlighted the challenges LDCs face, particularly the mobilization of financial resources to implement Nationally Determined Contributions (NDCs) effectively. The adviser stated, "Global dialogues must remove barriers to accessing climate finance. If emissions continue to rise, the cost of adaptation will far exceed our response capabilities," urging for enhanced international cooperation.
The broader narrative around South Asia's energy aspirations was echoed by other stakeholders during the conference, with important contributions from various representatives. Hasani Mehedi from the Coastal Livelihood and Environmental Action Network (CLEAN) stressed South Asia’s vast solar and wind potential. Emphasizing regional cooperation, he noted the feasibility of establishing renewable energy grids to facilitate sharing resources among countries to collectively achieve climate targets.
Imran Ahmed from Shakti Foundation noted the pivotal role of women within this energy transition. He pointed out how empowering women through entrepreneurial initiatives has successfully contributed to cleaner energy solutions, as evidenced by the 360 MW added through 6 million solar home systems already deployed across Bangladesh.
Concerns over global financial dynamics were raised by M Zakir Hossain Khan from Change Initiative, who expressed the need for transparent and low-cost investments through public-private partnerships, especially as South Asia garners only 1% of the world's climate finance—most of which is debted rather than grant-based. He highlighted the pressing reality where nations like Nepal, Bhutan, and Sri Lanka could struggle to support debts incurred through previous climate financing efforts.
Rizwana Hasan called for serious policy shifts and leverage of domestic resources, criticizing past administrations for failing to exploit local opportunities for energy production. "The notion of land shortage for renewable energy projects is unfounded," she remarked, calling for the political will to overcome these hurdles. The focus should pivot from reliance on fossil fuel imports to enhancing local capabilities.
Despite these discussions, hurdles remain as the region strives for energy transitions. Identifying localized and community-centric energy solutions was seen as pivotal, with advocacy for decentralized energy systems to empower rural populations significantly. Vidya Dinker from GrowthWatch pointed out how India’s emphasis on private-sector nuclear energy could overshadow the advantages offered by decentralized renewable solutions.
The conversation at COP29 not only highlighted the urgency of transforming South Asia's energy sector but also emphasized the intertwined nature of energy security, environmental stewardship, and economic prosperity. The commitment to renewable energy reflects hope, driven by collaboration and innovative approaches to resource management. It posits South Asia potentially on the path to redefining its energy narrative, fostering sustainability, and nurturing climate resilience, even as the road remains challenging and will demand thorough commitment and action from both governments and communities alike.
