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Support for local renewables through global platforms like the Commonwealth is vital for the transition to green energy

The journey to clean renewable energy has swiftly attracted the Common Wealth Enterprise and Investment Council’s attention. This council responded with a webinar labeled “Commonwealth Clean Energy Conversation.” Various countries in the developed and upcoming economies are switching gears to renewables as the appropriate solution for minimizing emissions globally.

Some of the critical notables that were part of this webinar are the chief executive of the Federation of Bangladesh Chambers of Commerce & Industries (FBCCI), Sheikh Fazle Fahim. The webinar was a debate evaluating how the Commonwealth can serve as a consultation ground for dispelling knowledge to countries that aim to be green economies. The members discussed the problems hindering the investors from cashing into this venture and how they can be motivated to join this revolution.

Commonwealth governments have signed a pact vowing to do what is within their jurisdiction to minimize greenhouse gas emissions that are motivating global warming and other climatic changes. After realizing their demeaning participation in environmental degradation through gaseous emissions, countries are slowly changing gears to renewable energy to counteract ecological pollution. Some of the renewables that the states are focusing on include offshore wind projects, solar farms, and hydropower. Initially, the countries were overly dependent on diesel, petrol, natural gas, and gasoline, which are the catalysts for the degeneration of the ecology.

The FBCCI chief thinks that the current environmental challenges from the energy sector began six decades ago. He suggests supporting multilateral initiatives as the best fit to meet the transition to renewable energy hastily. It is visible that plans and financial concepts alone cannot reduce emissions to net-zero. Partnerships, local governments, banks, data centers, and other economic entities must join in this mission for efficiency.

Fazle quotes the likes of Germany and its BMW company partnering to develop public facilities for electric vehicles to phase out the emissive ICE cars from the transport industry. He lauds such efforts requesting that resources and knowledge sharing through such concepts to be available globally. These concepts will catalyze multilateral organizations on the global and local level, private and public, to think up strategies that propel the achievement of the shift to green energy.

Finally, other members of the webinar, including Magdalene Kouneva – the director of REEEP, Richard Abel – the director of Climate Invest LLP, and other energy practitioners are in full support of the remarks by Fazle, terming them ideal concepts for the achievement of green energy economies.