Rapid and Just Transition in South Asia

South Asia is one of the regions in the world that majorly depends on domestic primary energy for electricity. After overcoming the economic impact of the COVID-19 pandemic, the countries (especially Bangladesh, Nepal, Pakistan, and Sri Lanka) face a serious economic crisis. In this critical situation, the global market of fossil fuel, especially petroleum and liquefied natural gas (LNG), has become more volatile due to overbidding by the northern countries and increased shipping costs after the Russian invasion of Ukraine and the commodity crisis.

As per United States Federal Reserve Economic Data (FRED), global LNG price in the Asian market increased to USD 41.17 per MMBtu in July 2022 from USD 4.91 in January 2020, which shows a 738% increase in only one and half years The South Asia Just Transition Alliance (SAJTA) took this position paper on Rapid and Just Transition in South Asia considering its unique characteristics incorporates its socioeconomic conditions and focuses on subregional cooperation considering the Global Climate Change and Economic Crises.