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Bangladesh on The Verge of a Carbon Catastrophe

Environmentalists warn Bangladesh of Carbon catastrophe

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Bangladesh
Bangladesh is on the verge of a carbon catastrophe with a large number of coal-based power plants. Pixabay

When the rest of the world is switching to renewable energy, Bangladesh is on the verge of a carbon catastrophe with a large number of coal-based power plants, environmentalists warned on Wednesday.

“Power is essential for Bangladesh…but it should not come through any suicidal project. No project is acceptable at the expense of people’s lives, livelihood, and environment,” said Iftekharuzzaman, the Executive Director of anti-graft watchdog Transparency International Bangladesh.

Iftekharuzzaman made the observation in Dhaka at the launch of a report titled ‘Choked by Coal: The Carbon Catastrophe in Bangladesh’, which highlighted the risk of coal-fired power stations, Efe news reported.

Australia-based campaign group Market Forces, California-based non-profit 350, Bangladesh Paribesh Andolon (BAPA), Transparency International Bangladesh and Waterkeepers Bangladesh jointly released the report.

Bangladesh
It’s high time for Bangladesh to switch to renewable resources. Pixabay

According to the report, at least 29 coal-fired power projects with a total capacity of 33,200 MW are being set up in Bangladesh. If all the projects are built, the country’s coal power capacity would increase by 63 times from the current 525 MW.

Annual emissions from the proposed coal plants would be 115 million tons of carbon dioxide by 2031, higher than the upper emissions estimate for the controversial Keystone XL oil pipeline between the United States and Canada, said the report.

The report added that 4,600 metric tons of carbon dioxide would be emitted through the operating lifetime of Bangladesh’s proposed coal plants, which is 20 percent greater than the lifetime emissions from all of the currently operating coal plants in Japan.

Chinese banks and companies are leading the dirty energy drive, funding over half of the projects, said the report, adding that UK and Japan-based companies are involved in three proposed coal projects each, despite transitioning to cleaner energy within their own borders.

“What is happening in the rest of the world over coal, Bangladesh is doing the opposite, though it is not necessary…the situation is turning like that we would be suppressed under coal,” said Abdul Matin, general secretary of BAPA.

The report also warned Bangladesh of the huge trade deficit as the pipeline plants would lock the country into a huge volume of coal import for decades.

Bangladesh
Annual emissions from the proposed coal plants in Bangladesh would be 115 million tons of carbon dioxide by 2031. Pixabay

“It would cost Bangladesh an estimated $2 billion annually to import large volumes of coal to power the proposed plants. Unless export increases significantly, this would add billions to the negative trade balance,” said the report.

During the fiscal years of 2018 and 2019, the country experienced the largest trade deficit in its history – $18 billion and $16 billion respectively, according to the report.

Iftekharuzzaman said after implementing the projects Bangladesh will also have to share the blame for climate change when the country itself is vulnerable to its catastrophic effects.

“We are taking these projects under pressure from foreign countries. We must back away from it… when we are one of the vulnerable countries to climate change, these will make us one of the worst polluters,” he said.

Also Read-More than 11,000 Scientists Declare Climate Emergency

The Asian Development Bank ranks Bangladesh seventh in the world of countries most affected by climate change. By 2050, with a projected half-meter rise in sea level, 11 percent of Bangladesh’s landmass may be lost, affecting about 15 million people in its coastal areas. (IANS)

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How the Growing Number of Entrepreneurs Impacts the Need for Startup Resources

While entrepreneurs see plenty of hope and a solid future in their business, there also lies a future in those willing to assist them.

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Entrepreneurs, Startup, Resources
More and more entrepreneurs coming into the world means that these budding businessmen and women are going to need direction, startup help, and plenty of resources. Pixabay

You don’t have to be a business genius to know that starting a business is a big risk. Even if you have all the tools necessary and do everything right, it could still be a huge failure. It’s like jumping into the deep end as a child.Entrepreneurs

But, don’t tell that to the current generation. 

Every year, we see more and more entrepreneurs from all parts of the world. Estimates say that there are nearly 600 million entrepreneurs today, a staggering number for a potentially risky job.

At that number continues to grow and expand with each passing year.

Entrepreneurs, Startup, Resources
Every year, we see more and more entrepreneurs from all parts of the world. Pixabay

More and more entrepreneurs coming into the world means that these budding businessmen and women are going to need direction, startup help, and plenty of resources.

While entrepreneurs see plenty of hope and a solid future in their business, there also lies a future in those willing to assist them.

Entrepreneurship and Education

It’s impossible to find the “right” path to becoming an entrepreneur. Bill Gates dropped out of college to start Microsoft. Jeff Bezos started out as an investment banker on Wall Street. Steve Jobs started Apple out of his own garage. Your neighbor Steve might have started the business with his college roommate after a night out.

Also Read- Stop Consuming Ultra-Processed Foods For A Healthy Heart

Ask a million entrepreneurs and receive a million different answers. Some may have an MBA while others may have a degree in creative writing.

That might be because studying entrepreneurship wasn’t available during their time.

In 1990, there were 180 programs offered by universities in the US. Today? That number is well over 2000. 

It shouldn’t surprise anyone that the #1 destination for entrepreneurs is the United States, thanks to its routinely strong economy and support for small businesses. In case you’re curious, the other top countries are Switzerland, Canada, the United Kingdom, Australia, Denmark, and Iceland. 

Entrepreneurs, Startup, Resources
Estimates say that there are nearly 600 million entrepreneurs today, a staggering number for a potentially risky job. Pixabay

Thanks to the rise of online learning, remote working, and the internet has also given birth to plenty of online course options that won’t cost you a fortune.

Udemy, Coursera, and even major universities offer courses for free or very little. For example, you can register for a course at the top college for entrepreneurship in the United States for free. 

I Need Somebody, Help!

Even though billions of dollars are being thrown around to rising companies or startups, it’s a lot more than money venture funds and capitalists are helping with.

Also Read- Congo: Volatile Security Situation Stymies Efforts to End Ebola

If you have ever watched Shark Tank, you might be lucky enough to see one of the Shark’s choose to invest in a business idea (although watching the terrible ideas is always funny). 

Billionaire NBA team owner Mark Cuban will often talk about “once my team comes in and helps you…” A contestant isn’t just receiving money, they’re receiving help and guidance.

Investors are smart and as Warren Buffet once said, “Never invest in a business you can’t understand.”

Investors, venture funds, angel investors, and even your family want to make sure you know how to succeed. That’s why they’re also going to be investing in startup tools while paying people to come in to help you market your business, maintain intellectual property, and advise you on why becoming an LLC is the better choice for you. 

Show me the Money

One of the biggest challenges for entrepreneurs is finding cash flow. After working through the nerves, taking the leap, and officially starting, all that’s left is to find some investors.

It’s certainly easier said than done, but it’s much easier now than it was ten years ago.

Venture capital growth has exploded over the last decade, not just to the rise of the popularity of Shark Tank

According to Pitchbook-NVCA Venture Monitor, fundraising went from $33 billion on average between 2013-2017 to a whopping $55 billion in 2018. More and more venture funds are seeing potential in businesses and entrepreneurs, funding their early struggles for a return later.

The total amount invested in rising companies is also a shocker, totaling $131 billion in 2018. This is only the second time in history that number has topped a billion, with the other time being in 2000. 

It’s a Competition

Even though more and more places are funding startup businesses, that also means there is plenty of competition to go around. 

Banks, despite being the most popular place to head to a loan, are quite picky about when and to whom they give loans out. Big banks have a 27% approval rate while small banks don’t even make it to 50%.

Online lenders are becoming more and more popular, but still, don’t have an incredibly high approval rate. 

With so many entrepreneurs popping up, more and more are going to banks, venture funds, online lenders, and more.

Despite these potential road bumps, there is still great growth potential for entrepreneurs that will carry over into the next decade and beyond.