There is already evidence that renewable energy can deliver both environmental and economic benefits. A World Bank supported programme has added 338 megawatts of renewable electricity to Bangladesh's grid and is estimated to avoid about 377,000 tonnes of carbon dioxide emissions every year. The lesson is clear: renewable energy is not merely a climate intervention; it is also an investment in energy security.

But generating cleaner electricity is only half the equation. Bangladesh must also use energy more efficiently. The country has long recognised this need. SREDA's Energy Efficiency and Conservation Master Plan sets a target of reducing primary energy use per unit of GDP by 20 percent by 2030. According to SREDA, achieving this target could save an amount of energy equivalent to around 78,000 million cubic metres of gas and reduce expenditure on imported fuels.

Energy efficiency deserves much greater attention in factories, commercial buildings and government institutions. Large industries should be required to undertake regular energy audits and introduce efficient motors, boilers, cooling systems and production processes. Textile and garment factories in particular have strong incentives to become more energy efficient because international buyers are increasingly demanding lower carbon production. Bangladesh's export competitiveness will increasingly depend on its ability to produce goods with a smaller carbon footprint.