Ctg civil society calls on AIIB to stop funding fossil fuels, invest in renewables

Chattogram civil society representatives today urged the Asian Infrastructure Investment Bank (AIIB) to shift its investments away from coal and gas-based energy and increase support for renewable energy at a civic march titled "Stop Financing Fossil Fuels".

The march, held at Chattogram's Bahaddarhat Police Box, was organised by several non-governmental development organisations, including ISDE Bangladesh, CAB Youth Group Chittagong Metropolitan, Coastal Livelihood and Environment Action Alliance (CLEAN), and Bangladesh Ecosystem and Development Action Alliance, said a press release.

During the event, speakers called on AIIB to halt funding for oil, coal, and gas infrastructure and instead prioritise financing renewable energy projects that do not exacerbate climate change. The campaign urged AIIB to play a more active role in mitigating the impacts of climate change by supporting sustainable development and transitioning away from fossil fuels.

Participants creatively expressed their concerns through rallies, peaceful protests, and colourful banners and placards bearing slogans about the environmental and economic damage caused by fossil fuels.

SM Nazer Hossain, Vice President of CAB Central Committee and Executive Director of ISDE Bangladesh, emphasised, "If AIIB wants to ensure a better environment and a safer future, it must divest from fossil fuels and invest in renewable energy." He added, "AIIB's mandate should be to prioritise renewable energy. Fossil fuels have no place in a climate-resilient future."

Other speakers including Saira Begum, Executive Director of Sabujer Yatra, Md Shaheen Chowdhury, President of CAB Sadarghat Thana, Md Jane Alam, Joint Secretary of District Social Entrepreneurship Parishad, and Abu Hanif Noman, President of CAB Youth Group Chittagong Metropolitan spoke at the event.

In his remarks, CAB president Abu Hanif Noman said, "The sustainable infrastructure AIIB has promised cannot be achieved by financing projects that degrade the environment. To protect our future, AIIB must stop funding fossil fuel projects and focus on renewable energy to build a more sustainable and equitable world."

Youth environmental activist Jannatul Ferdous Sumaiya echoed these sentiments, saying, "The goals of this year's AIIB meeting can only be realised through investment in renewable energy."

The protest drew participation from environmental activists, local leaders, civil society members, women's groups, students, and concerned citizens from across Chattogram.