Policy support to corporates crucial for a green energy transition: Roundtable

Given the persistent impacts of climate change, prominently global warming, policy support and public-private collaboration are crucial for a green energy transition to reduce dependency on fossil fuel as well as facilitating renewables, said speakers at a roundtable in Dhaka.

Bangladesh's leading telecommunication operator Grameenphone orgnaised the roundtable titled Green Energy Ecosystem in Bangladesh marking the World Environment Day on 5 June.

Chief guest of the event Espen Rikter Svendsen, the Ambassador of Royal Norwegian Embassy in Dhaka, highlighted how Norway would go through a green transformation process with a policy framework providing climate-friendly choices.

"Green growth is possible but it requires policy support that enables businesses to develop and deploy new technologies to replace fossil-fuel solutions," the Ambassador said, adding that a Green Platform Initiative has been established in Norway with a goal to stimulate bigger and rapid investment from companies in green and sustainable products.

Keynote speaker, Shahriar Ahmed Chowdhury, Director of the Center for Energy Research under United International University, briefed about the existing energy mix of Bangladesh, while stressing for transition to renewables at the moment when Bangladesh is struggling to meet demand for electricity.

Citing the country's Net Metering Policy Guidelines, he said options are there for the corporates to invest in renewable systems but they have limited space on their premises.

"Developing large-scale solar PV projects is challenging in the country struggling with land scarcity. So an industry can arrange land at remote places, So an industry can arrange renewable system at remote location but needs grid connectivity and distribution support to get green electricity in desire locations." Shahriar said.

However, he mentioned some barriers in the guidelines that need to be removed to attract investors in facilitating renewable options at remote places.

Nazneen Ahmed, Country Economist at UNDP, said, corporates' involvement in the country's energy sector would play a great role while improving livelihoods of the marginalised climate victims who are not responsible in any way for global warming.

Faisal Rabbi, H&M's Stakeholder Engagement and Public Affairs Manager, said H&M has set an ambitious goal to reduce emissions from its production and supply chains. "Our focus is now the corporate power purchase agreement with a promise of supply from offside renewable sources," he said.

Tham Chee Aun, the Group CEO of Ditrolic Energy Holdings, explained Offside Power Purchase Agreement (PPA), saying that this new idea actually is an addition to a country's renewable energy capacity.

Grameenphone CEO Yasir Azman said Grameenphone has so far converted around 1200 towers into solar energy powered sites in remote places and 6000 more are in progress.

"It will significantly reduce carbon emissions from our operations and help overcome the electricity supply problem, but to reach 50% carbon reduction target. Corporate Power Purchases Agreements is a critical need"he said.

Grameenphone's Head of Social Impact, Farhana Islam moderated the roundtable.