Road March held in Chittagong calling on AIIB to divest from fossil fuels and finance renewable energy

25 Sep 2024 | 11: 50 am

Chattogram 24 September 2024

To mark the annual meeting of the Asian Infrastructure Investment Bank (AIIB) to be held in Samarkand, Uzbekistan, ISDE Bangladesh, CAB Youth Group Chittagong Metropolitan, Coastal Livelihood and Environment Coalition (CLEAN) and Bangladesh Working Group on Ecology and Development (BWGED) jointly organized Road March and Protest meeting titled “Stop Financing Fossil Fuels” in line with AIIB’s core mission, “Investment in Sustainable Infrastructure” in Chittagong to demand an end to its investment in fossil fuels. They urged the AIIB to stop financing Fossil fuels based oil, coal and gas infrastructure and prioritize financing renewable energy projects instead of projects that exacerbate climate change. Through the campaign, AIIB was called upon to play a more effective role in combating the effects of climate change through sustainable development and increased investment in fossil fuels.

Participants expressed their protest in innovative ways, including creative marches and peaceful protests to highlight environmental damage and the negative effects of fossil fuels. The road march featured colourful banners, placards with slogans highlighting the negative impact of fossil fuels on livelihoods and economic and environmental disasters.

Vice President of CAB Central Committee and Executive Director of ISDE Bangladesh, S M Nazer Hossain said, “If AIIB wants to ensure a better environment and secure future, it needs to divest from fossil fuels and invest in renewables.” He further said, “The key mandate of AIIB’s annual meeting is to divest from investment in fossil fuels. If they are truly committed to building sustainable and stable infrastructure. But they must prioritize renewable energy, fossil fuels have no place for a climate-resilient future. If the AIIB really wants to take the lead in building sustainable infrastructure, they need to stop funding polluting projects.

Amongst others, Sabujer Jatra Executive Director Sayera Begume, Cab Sadarghat Thana President Md Shaheen Chowdhury, Joint Secretary District Social Entrepreneurship Council Md Jane Alam, CAB 07 Paschim Sholashar Abdul Awal, CAB Youth Group Chittagong Metropolitan President Abu Hanif Noman, youth activist Sidratul Mantaha, Emdadul Islam, Muhammad Mamun, Safar Ahmed, S M Rahman Ziku, Jannatul Ferdous Sumaiya, Md Eshraful Haque Chowdhury, Imran Hossain etc spoke in solidarity at the march and protest meeting.

CAB Youth Group Chittagong Metropolitan President Abu Hanif Noman said, “The sustainable infrastructure that AIIB has promised cannot be fulfilled by financing projects that degrade the environment. To protect our future, They need to stop funding fossil fuel projects in the name of “clean energy” and invest in renewable energy, which will build a more sustainable and equitable world.”

Youth environmental activist Jannatul Ferdous Sumaiya said, “The goals of this year’s meeting can only be achieved by investing in renewable energy.” The campaign titled “AIIB: Stop Financing Fossil Fuels” calls for the end of all AIIB financing of oil, coal and gas projects and urges the bank to demonstrate action to address real climate change impacts through its financing. Environmental activists, local leaders, civil society members, women activists from various organizations, students and conscious citizens of Chittagong and beyond participated in this protest campaign.