Energy

Adding to the complexity, the Power Grid Company of Bangladesh has yet to complete six substations critical for evacuating electricity generated at the Meghnaghat hub. Sources say these substations are unlikely to be ready before August.

The report estimates an average annual growth rate of 33 per cent in rooftop solar installations over the next two fiscal years – driven by a combination of rising energy demands, falling technology costs, and supportive policy frameworks.

While the previous government’s reforms aimed at increasing transparency, efficiency, and private sector involvement, the Dissanayake administration appears to be prioritising a different approach, potentially curbing or modifying privatisation efforts.

The study highlights that the economic damage will not be evenly distributed. Developing nations, often located in regions more vulnerable to extreme weather events, will bear the brunt of the impact.

For renewable energy to truly fulfill its promise, the world must invest not only in expanding capacity but also in building a system that is resilient, adaptable, and informed by the best available climate science.

By adhering to its reform commitments and leveraging RSF funding, Pakistan aims to build a sustainable future while addressing critical challenges in fiscal policy, energy, and climate adaptation.

The minister informed that a 50 per cent rebate in the revenue share for coal used in gasification has been introduced in commercial coal block auctions, provided that at least 10 per cent of the total coal production is used for gasification purposes.

The report's optimism stems from the observation that 2023 marked the first year where the continued expansion of building construction was decoupled from the corresponding rise in sector greenhouse gas emissions.