Finance Minister of Bangladesh emphasizes on renewable energy to save earth, humanity

Mr. AHM Mustafa Kamal, FCA, MP, Honorable Minister of Bangladesh, Ministry of Finance, inaugurated the two-day long seminar on clean energy along with the exhibition focusing on energy efficiency, renewable energy, green building and green finance on March 10th.

The mega green energy event is being held at Bangabandhu International Conference Centre (BICC), Agargaon, Dhaka, organized by Infrastructure Development Company Limited (IDCOL), a state-owned non-banking financial institution.

In his inauguration speech, Kamal said that climate change is a subject to a serious threat for humankind due to carbon emission from fossil fuels. He said 80% of energy is coming from fossils that is degrading the environment and everybody around the world has been suffering from it.

He urged all to change the methodology of producing energy. “We have to work for green energy,” the minister said, adding, “We need renewable energy to save humanity, to save the earth, to tackle climate change.”

Renewable Energy

Mr. AHM Mustafa Kamal, FCA, MP, Honorable Minister of Bangladesh, Ministry of Finance

Mr Kamal also requested all to raise voice loudly to reduce carbon emission with a view to saving the climate, future generation.

Dr. Towfiq-e-Elahi Chowdhury, Bir Bikrom, Adviser to the Honourable Prime Minister, Bangladesh, on Energy, Power and Mineral Resources, said access to energy has been more than doubling in the last one decade. He stressed on solar power, green energy to protect the environment, climate from further destruction.

Mr Towfiq said that climate change mitigation is not our responsibility as developed countries are responsible for those for producing more carbon emission. He urged all to meet climate challenges for a healthy life in the world.

Mr. Mamood Malik, Executive Director and CEO, IDCOL, in his welcome speech, said IDCOL is playing a pivotal role in producing renewable energy, investing finance and maintaining energy efficiency.

Dr Ahmad Kaikaus, Senior Secretary, Power Division, Ministry of Power, Energy and Mineral Resources, Bangladesh, said energy is being produced from fossils from the last two centuries whereas energy from renewables is being generated from last 50 years and it is playing role to produce 20% of energy. He said, “We should put emphasis on solar energy, hydro energy, and solar economy to achieve 8% GDP growth.

IDCOL is playing a vital role in developing and financing infrastructure, renewable energy and energy efficient projects in Bangladesh since its inception in 1997. Today the company stands as the market leader in private sector renewable energy and infrastructure financing in Bangladesh.

The objective of the event is to create a platform for energy practitioners to exchange knowledge, ideas and address challenges through interactive discussions on various aspects of clean energy which include technology, market development, financing as well as policy and regulatory matters. Industry professionals from both manufacturing and services, technology suppliers and traders, trade associations and bodies, financial institutions, development partners, government bodies and policy makers, foreign dignitaries, academicians and researchers are set to grace the event.

In the two-day long seminar, a total of nine Spotlight & Presentation Sessions are being held, on the following topics: (1) Global Transitions in Clean Energy – Frontiers of New Energy Paradigm; (2) Energy Efficiency Policy, Financing and Market Outlook in Bangladesh; (3) Sunnyside up – Scaling up Solar Photovoltaic Solutions; (4) Showcasing Global Exhibitors of Expo; (5) Reimagining Clean Energy Financing; (6) Leapfrogging in Productivity through Energy Efficiency – Success stories; (7) Electric Mobility Potential and Market Outlook in Bangladesh; (8) Technological Innovation and Standards for Driving Clean Energy and (9) Green Buildings Ecosystem in Bangladesh.

Some 400 experts, regulators, policymakers, financiers, energy practitioners as well as business houses from around the world are joining in the seminar. Participants duly registered for this seminar have got access for attending in the seminar.

In the Exhibition, over 100 stalls from local and international manufacturers/suppliers of various renewable energy, energy efficiency, green finance and green building technologies are exhibiting their products and services. Some 25 exhibitors out of total 65 came from 10 various countries in the world.

According to a report of International Finance Corporation (IFC), Bangladesh has US$132 billion of climate-smart investment opportunity from 2018 to 2030 in renewable energy, energy efficiency and green building.

Through the fair, the exhibitors will get the opportunity to create visibility for their brands, gain insights from leading industry experts, build new relationships and generate leads, showcase their products and services, consolidate contacts with their buyers and business partners, said Mr Mahmood Malik, Executive Director & CEO of IDCOL.

Among others, Powertrack Group, Seed Bangla Agro Ltd, Rahimafrooz Renewable Energy Ltd, Panna Rural Development Foundation, Rimso Foundation, Hamco Corporation Ltd, Bangladesh Petrochemical Company Ltd, Energypac Electronics Ltd, Kirti Solar, Bright Solar Ltd are attending the event as exhibitors.

The exhibition is kept open for all from 9:30 am till 8:00 pm. Ernst & Young LLP is the Knowledge Partner of the summit while Solar Quarter is its Networking Partner.

A total of 11 local and international conglomerates is sponsoring this event in three categories. Confidence Power and Bashundhara Cement are the Platinum Sponsors while Bangla Trac, Max Group, Regent Energy and Power Ltd, Karnaphuli Power Ltd and Shakti Pumps are the Gold Sponsors, and City Group, Partex Petro, Summit Corporation and Seven Rings Cement are the Silver sponsors respectively for this event.

In 2016, IDCOL achieved ‘United Nations Momentum for Change Award.’ To take this momentum forward, IDCOL organized this summit which will be a one-stop technology and business marketplace to facilitate match-making among industries and solution providers.

This article has been posted by a News Hour Correspondent. For queries, please contact through [email protected]
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