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[URL unfurl="true"]https://www.thedailystar.net/business/news/strengthen-renewable-energy-ties-australia-3827901[/URL]Strengthen renewable energy ties with AustraliaSpeakers tell CPD discussionIncreasing collaboration with Australia in the renewable energy sector will enhance Bangladesh's clean energy capacity, promoting sustainable growth and climate resilience, according to speakers.However, financing remains a significant challenge in Bangladesh's transition to green energy, posing a major barrier to achieving sustainability goals, they said.The gap between demand and availability in long-term climate financing will reach $230 billion by 2050, for which securing adequate funding is crucial for implementing essential adaptation and mitigation projects, they added."We need deeper collaboration with Australia in renewable energy investments, technology transfer, and capacity-building programmes," said Khondaker Golam Moazzem, research director of the Centre for Policy Dialogue (CPD).Presenting a keynote on "Bangladesh-Australia: Climate Policy and Green Energy Transition" at a discussion organised by the CPD on the topic at The Westin Dhaka yesterday, Moazzem underscored the necessity of a renewable energy transition.He also said a green energy transition was no longer optional, but a requirement for ensuring energy security and sustainable development.Moazzem highlighted the Indo-Pacific region's increasing alignment of economic growth with sustainability, emphasising the necessity of collaborative action to combat climate change.According to him, Bangladesh has made notable progress in climate policies, implementing key frameworks such as the Climate Change Strategy and Action Plan (2022), National Adaptation Plan (2023-2050), and the Integrated Energy and Power System Master Plan (2023).These initiatives aim to enhance the country's resilience against climate change while promoting clean energy alternatives, he said.Meanwhile, Australia's Climate Change Act (2022) and its commitment to reducing emissions demonstrate a firm policy direction towards achieving net-zero targets, he said.Moazzem pointed out that Bangladesh's energy sector was still highly dependent on fossil fuels and emphasised that a shift to solar, wind, and hydropower could help meet growing energy demands sustainably.However, Australia's increased climate investments and development aid could play a pivotal role in addressing this shortfall, he said.He urged both governments to facilitate joint financing mechanisms, enabling Bangladesh to scale up its renewable energy infrastructure.Syeda Rizwana Hasan, adviser to the Ministry of Environment, Forest, and Climate Change, acknowledged that despite the government's ambitious targets, implementation was challenging due to financial constraints and a short timeframe.However, she said the government could strengthen the Sustainable and Renewable Energy Development Authority (SREDA) to implement its plan to increase green energy.According to her, power plants are directly responsible for 28 percent of the air pollution in Bangladesh.She encouraged the owners of heavy industries to invest in generating renewable energy.Additionally, the adviser urged the Australian government to provide grants or concessional loans to the climate change fund.Kristin Tilley, the Australian ambassador for climate change, said the Australian government was emphasising the generation of at least 35 percent green energy in total power production.She stated that they were recommending that the Australian government increase funding for developing countries to ensure green energy access for at least 26 least-developed countries under the development fund."This fund is used for education and training programmes," she said, adding, "Carbon emissions should be reduced by adopting technology in manufacturing units or heavy industries."Martin Holtmann, Country Manager of IFC Bangladesh, said they have invested $1 billion in the private sector, emphasising carbon emission mitigation at their own risk.He also mentioned that the Bangladesh government was sincere in addressing climate change-focused projects, which was commendable.Moreover, the number of LEED-certified green factories is growing in Bangladesh, paving the way to achieving zero carbon emissions within 25 years, Holtmann added.Moderating the discussion, Fahmida Khatun, executive director of the CPD, emphasised the urgent need for joint action to combat climate change and ensure sustainability.
[URL unfurl="true"]https://www.thedailystar.net/business/news/strengthen-renewable-energy-ties-australia-3827901[/URL]
Strengthen renewable energy ties with Australia
Speakers tell CPD discussion
Increasing collaboration with Australia in the renewable energy sector will enhance Bangladesh's clean energy capacity, promoting sustainable growth and climate resilience, according to speakers.
However, financing remains a significant challenge in Bangladesh's transition to green energy, posing a major barrier to achieving sustainability goals, they said.
The gap between demand and availability in long-term climate financing will reach $230 billion by 2050, for which securing adequate funding is crucial for implementing essential adaptation and mitigation projects, they added.
"We need deeper collaboration with Australia in renewable energy investments, technology transfer, and capacity-building programmes," said Khondaker Golam Moazzem, research director of the Centre for Policy Dialogue (CPD).
Presenting a keynote on "Bangladesh-Australia: Climate Policy and Green Energy Transition" at a discussion organised by the CPD on the topic at The Westin Dhaka yesterday, Moazzem underscored the necessity of a renewable energy transition.
He also said a green energy transition was no longer optional, but a requirement for ensuring energy security and sustainable development.
Moazzem highlighted the Indo-Pacific region's increasing alignment of economic growth with sustainability, emphasising the necessity of collaborative action to combat climate change.
According to him, Bangladesh has made notable progress in climate policies, implementing key frameworks such as the Climate Change Strategy and Action Plan (2022), National Adaptation Plan (2023-2050), and the Integrated Energy and Power System Master Plan (2023).
These initiatives aim to enhance the country's resilience against climate change while promoting clean energy alternatives, he said.
Meanwhile, Australia's Climate Change Act (2022) and its commitment to reducing emissions demonstrate a firm policy direction towards achieving net-zero targets, he said.
Moazzem pointed out that Bangladesh's energy sector was still highly dependent on fossil fuels and emphasised that a shift to solar, wind, and hydropower could help meet growing energy demands sustainably.
However, Australia's increased climate investments and development aid could play a pivotal role in addressing this shortfall, he said.
He urged both governments to facilitate joint financing mechanisms, enabling Bangladesh to scale up its renewable energy infrastructure.
Syeda Rizwana Hasan, adviser to the Ministry of Environment, Forest, and Climate Change, acknowledged that despite the government's ambitious targets, implementation was challenging due to financial constraints and a short timeframe.
However, she said the government could strengthen the Sustainable and Renewable Energy Development Authority (SREDA) to implement its plan to increase green energy.
According to her, power plants are directly responsible for 28 percent of the air pollution in Bangladesh.
She encouraged the owners of heavy industries to invest in generating renewable energy.
Additionally, the adviser urged the Australian government to provide grants or concessional loans to the climate change fund.
Kristin Tilley, the Australian ambassador for climate change, said the Australian government was emphasising the generation of at least 35 percent green energy in total power production.
She stated that they were recommending that the Australian government increase funding for developing countries to ensure green energy access for at least 26 least-developed countries under the development fund.
"This fund is used for education and training programmes," she said, adding, "Carbon emissions should be reduced by adopting technology in manufacturing units or heavy industries."
Martin Holtmann, Country Manager of IFC Bangladesh, said they have invested $1 billion in the private sector, emphasising carbon emission mitigation at their own risk.
He also mentioned that the Bangladesh government was sincere in addressing climate change-focused projects, which was commendable.
Moreover, the number of LEED-certified green factories is growing in Bangladesh, paving the way to achieving zero carbon emissions within 25 years, Holtmann added.
Moderating the discussion, Fahmida Khatun, executive director of the CPD, emphasised the urgent need for joint action to combat climate change and ensure sustainability.
