Mymensingh Civil Society Demands G-7 Leaders to Stop Investing in Fossil Fuels

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Mymensingh Civil Society Demands G-7 Leaders to Stop Investing in Fossil Fuels

Peoples Time Desk

Published : Wednesday, 12 June, 2024 at 3:07 AM, Count : 1377

Mymensingh Civil Society Demands G-7 Leaders to Stop Investing in Fossil Fuels

In the eve of the G-7 summit to be held in Italy on June 13-15, 2024, a protest gathering was held today at the town hall premises of Mymensingh city against ongoing investment in fossil fuels by the member countries of the group and demand for investment in renewable energy.

The rally was organized by Mati Bangladesh, Coastal Livelihood and Environment Coalition (CLEAN), Bangladesh Working Group on Ecology and Development (BWGED) and Climate Change Network in Greater Mymensingh (CCNGM).

Development Director of Mati Bangladesh, during the presentation of demands in the assembly, Shahidul Islam said, "Climate change as a result of global warming is now a new global reality, which has made the existence of our world and the entire biosphere, including mankind, critical. The G7 countries contribute 27% of the fossil fuel production responsible for global warming and continue to invest billions of dollars in fossil fuel infrastructure in various countries. From 2023 to 2050, the US, UK and Canada will account for almost half of carbon dioxide emissions from new oil and gas projects. However, they are continuing to finance fossil fuel-based electricity generation in developing countries like Bangladesh in the form of loans, despite making clear commitments many times before, including at the last Climate Conference (COP-28).

General Secretary of "Environment Protection and Development Movement" Adv. Shibbir Ahmed Liton said, “According to the data, the G7 countries invest US$25.7 billion annually in fossil fuel-based projects, while only US$10.3 billion are invested in renewable energy. Only 1% of their investment in renewable energy goes to low-income countries, again in the form of loans, which further increases the external debt burden of these countries. However, as the world's largest carbon emitter, they are committed to compensate affected countries like Bangladesh." He urged the G-7 leaders to implement their commitments.

Mahbub Bin Saif, president of the Mymensingh district committee of the Bangladesh Trade Union Centre, said, “the G-7 countries have already switched to coal-based power by 2035, in line with the zero-emission target announced by the International Energy Agency (IEA) by 2050 for the energy sector. Centers have announced their commitment to close. However, Japan, one of the G7 countries, is providing loans to Bangladesh to implement coal-based power projects in the name of better technology, which is expensive and harmful to the environment. He demanded the closure of these projects.

Engineer Nurul Amin Kalam, general secretary of 'Mymensingh District Citizen Movement' said, "G-7 countries have the most role to play in reducing carbon emissions and global temperature. But they are not keeping the promises made by them. For this reason, there is no alternative for the global conscious community to speak out. He called on the civil society of Mymensingh and all over the country to be vocal in this matter and urged the G-7 leaders to get out of fossil burning addiction and invest in renewable energy to ensure our future energy security.

The gathering was attended by representatives of member organizations of CCNGM network, students, various professionals and representatives of conscious civil society.

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