EU sees opportunities in Bangladesh's rapid renewable energy expansion

Ambassador of the European Union (EU) to Bangladesh Michael Miller has said there are many opportunities to work more on renewables in a country like Bangladesh which has a low amount of renewable capacity.

He said it does mean that the opportunity is there to expand renewable energy facilities quickly, and they have both experience in the European Union and financing available.

"We think there's a scope to work with Bangladesh on air quality and air pollution. But, the big investment that I would want to talk about is in renewable energy," Ambassador Miller told UNB in an interview at his Embassy office.

Between 2021 and 2027, Team Europe will mobilise up to €300 billion of investments for sustainable and high-quality projects, taking into account the needs of partner countries and ensuring lasting benefits for local communities.

Ambassador Miller said they had a Global Gateway Forum last year which mobilized 400 million euros as a facility from credit to help build essentially - it is building power plants, building stable grids infrastructure, and it is building interconnections.

"I think it's just such an obvious area (climate change) where our partnership can be imbued with substance. So we are doing lots of work in terms of financing the environmental upgrade of the textile sector," said the Head of Delegation of the EU in Dhaka.

For example, Ambassador Miller said they are working very specifically on decarbonizing the brick industry, which is a huge polluter.

Talking about Global Gateway, he said it is an approach to building secure and open and trusted networks.

When there would be a possibility to promote cooperation with neighbours, cooperation with Nepal, for example, then these are areas where they would want to explore, said the EU envoy.

"It's huge that we have the same agenda because of the climate vulnerability of this country, and because we are extremely committed to combating climate change," Miller said.

In Brussels, he said, there is a huge political transition and hopefully by the middle of November, they will have a new college (of the European Commission).  

"But that political transition is just going to confirm how important it is for us to take climate action," he added.

Ambassador Miller said that Chief Adviser Prof Muhammad Yunus is a political "rock star" with access to everywhere.

"Everyone listens to what he says, and it is something that Bangladesh can build upon. And for me, the approach is to deepen the partnership we have," he said.

The EU thinks their engagement on all aspects of climate change will only get stronger in the coming years in line with their shared conviction about the importance of climate mitigation and adaptation.

Ambassador Miller recently met Environment, Forests, Climate Change, and Water Resources Adviser Syeda Rizwana Hasan.

They exchanged views on innovative initiatives to address climate change and preparations for the upcoming COP29.  Besides, environmental and social compliance in the RMG, leather, and brick sectors was discussed during their meeting.

The EU reaffirmed its readiness to assist the interim government in achieving its reform objectives.

"The European Union has been a key partner in Bangladesh's efforts to combat climate change and protect our rich biodiversity," said Rizwana Hasan.

Bangladesh is one of the most vulnerable countries to climate change.

Managing climate risks has been central to Bangladesh’s development story, according to the World Bank.

Today, Bangladesh is recognised as a global leader in climate change adaptation and disaster preparedness.

But, the World Bank says the country continues to face severe and increasing climate risks, and without strong action, climate change will undermine Bangladesh’s strong development trajectory and the poorest will be hardest hit.