On October 23, 2024, in Chittagong, a unique campaign was organized to demand increased investment in renewable energy and the cessation of funding for “false clean energy” technologies. The event was jointly organized by three environmental development organizations: Integrated Social Development Effort (ISDE), Coastal Livelihood and Environmental Action Network (CLEAN), and the Bangladesh Working Group on Ecology and Development (BWGED). The campaign was strategically timed ahead of the World Bank Group and International Monetary Fund’s (IMF) annual meeting in Washington, D.C.

Participants in the campaign called on the World Bank to increase investments in renewable energy sources, such as solar, wind, and other low-carbon technologies, and to move away from projects related to fossil fuels or so-called “clean energy” technologies like carbon capture and storage (CCS), which they referred to as false solutions. They emphasized that the technologies the World Bank is currently funding are not effective in tackling the climate crisis and that substantial investment in renewable energy is crucial to achieving reliable and sustainable solutions for combating climate change.

The climate action campaigners of ISDE, with colorful banners and placards, organized a distinctive event aimed at drawing the attention of top officials at the World Bank. Their banners highlighted the need for investments to focus solely on renewable energy in accordance with the Paris Agreement. The speakers pointed out the urgent need for real and effective steps to reduce carbon emissions caused by fossil fuels, which is only possible through increased investment in renewable energy.

The participants criticized the World Bank’s current investment policy, which still allocates funds for outdated and ineffective technologies that are not conducive to achieving climate change goals. ISDE’s Executive Director & CAB Central Vice President S M Nazer Hossain, remarked, “Although the World Bank has claimed they will no longer invest in the fossil fuel sector, they continue to invest millions of dollars in projects like the Rupsha 800 MW and Siddhirganj 335 MW combined cycle power plants.”

He further added, “The World Bank is currently investing in certain technologies whose impact is unclear, and their effectiveness remains unproven, such as energy mix and carbon capture technologies. The World Bank and IMF should divest from fossil fuels and increase investments in renewable energy.”

The organizers of the campaign urged the World Bank to reconsider its investment policies and ensure increased investments in renewable and sustainable energy in the energy sector of Bangladesh. They stressed that the development of renewable energy is essential for sustainable development and climate justice, and that institutions like the World Bank should align their policies accordingly.

Columnist Musa Khan, Boalkhali UP Chairman Association Ex-President Nur Mohammed Chairman, Women Activist Zannatul Ferdous, Laila Yeasmin, Sayma Hoque, Human Rights Activist Osman Jahangir, Joint Secretary Jila samajik Uddokta Parishad Md Jane Alam, Principal Chandgaon Public School & College Ismail faroqi, CAB leader Shaheen Chowdhury,  Editor Chattogram Kontha Komal das Gupta, M A Awal, CAB Youth Group leader Emdadul Hopue, members of civil society, journalists, students, and people from various professions. News release.