Turning viable climate solutions into investment and employment opportunities

13/05/2024


For nearly half a century, scientists globally have recognized that a substantial chunk, reaching up to 79%, of worldwide carbon emissions stems from electricity production through fossil fuel combustion. However, it wasn't until roughly five to seven years ago that cost-effective alternatives emerged. Renewable sources like solar and wind energy, which boast negligible carbon emissions, have now become financially competitive.

In a heartening turn of events, the business sector has swiftly responded to the carbon emission and global warming issues, mirroring the rapid development seen with pandemic vaccines. They have committed to a substantial global investment of USD 35 trillion in renewable energy over the next 15 years. This effort aims to avert the potential catastrophe of a 1.5-degree temperature rise, which could elevate sea levels to the extent that many countries face inundation.

On Saturday, September 23, 2023, the 'Preserve Planet Earth' International Climate Conference in Dhaka brought together a diverse group of policymakers, experts, scientists, renewable energy specialists, diplomats, educators, and activists. They convened to explore how to transform emerging actionable solutions into investment and employment prospects, while concurrently addressing escalating global temperatures and minimizing fossil fuel consumption.

Mr. A Quaiyum Khan, Founder Trustee of Independent University, Bangladesh (IUB) and Chittagong Independent University (CIU), spearheaded the conference, which took place at the IUB Auditorium located in Dhaka's Bashundhara Residential Area. This event marks the beginning of a series spanning cities from Dhaka to Manila, Dallas, Santiago, Santos-Brazil, Paris, and Kampala. Among its aims are fostering international collaboration for innovative solutions and resource sharing, as well as empowering investors, particularly those at a smaller scale, to navigate mature markets and ensure they attain their deserved returns.

This initiative was made possible with the backing of entities like Help Services Foundation; Institute of Electrical and Electronics Engineers (IEEE); IUB’s International Centre for Climate Change and Development (ICCCAD) and the Centre for Bay of Bengal Studies (CBoBS); Rotary Club of Shyamoli-Dhaka; Project Arodhya; and Envolead.

Prof. Dr. Saleemul Huq OBE, Director of International Centre for Climate Change and Development (ICCCAD) at IUB, highlighted the importance of finding solutions fast. He said that while the pace of the solutions to combat climate change lags behind the problem's progression, Bangladesh emerges as a pioneering hub where innovative responses are being conceived and implemented. The battle against climate change has two primary fronts: mitigation, transitioning from fossil fuels to renewables, and adaptation, addressing the now inevitable impacts and subsequent damages. The narrative around climate change has shifted from forecasting a future issue to confronting an ongoing crisis.

Prof. Huq added that Bangladesh, despite being a hotspot for multiple climate adversities, can be seen as a testing ground for finding multifaceted solutions, given its diverse ecosystems and location-specific challenges. For the youth, there's an emphasis on the crucial blend of practical implementation and continual learning. By mastering the solutions to these challenges, Bangladesh not only addresses its internal concerns but also positions itself as a global leader. The expertise developed here will be sought after globally, presenting potential profitable ventures for young entrepreneurs.

Prof. Saifur Rahman, President & CEO of IEEE, presented on ‘Climate Change and Net-Zero Transition’ focusing on industrializing countries. He said the challenge is decarbonization, especially for developing nations. While the West discusses transitioning from coal to cleaner energy sources, countries like Bangladesh argue they have little to transition from. Solutions to tackle climate change include energy efficiency, use of low-carbon fossil fuel power plants, hydrogen and other energy storage techs, promotion of renewables, limited acceptance of nuclear energy, and cross-border power transfer. Prof. Rahman emphasized that while funding is essential, innovative ideas are pivotal. He urged policymakers to recognize Bangladesh’s potential as a leader in climate solutions.

IUB Trustee A Quaiyum Khan said, ‘Preserve Planet Earth’ is a Rotary initiative that began in 1990, preceding the formation of the UNFCCC in 1992. The initiative faced resistance from the business community, stalling its progress due to a lack of tangible solutions for global warming. Today, with the emergence of viable economic solutions, it's been revitalized with global Rotary support. The program is now a series of conferences offering free online participation, with events in six cities tailored to accommodate all time zones. This endeavor upholds the Rotary principle of worldwide inclusivity and collaboration.

In a video message, Saber Hossain Chowdhury, MP, Bangladesh Prime Minister's Special Envoy for Climate Change, said: "We are now at the onset of a planetary emergency. So, prep-time is over and impactful action is of paramount importance. Aiming to turn challenges into opportunities, we need to amplify our climactic sustainability game with strategic resource management and impactful investment on preservative measures."

In another video message, Ayesha Waseqa Khan, MP, Vice Chairperson of Climate Parliament Bangladesh, said there are 30 renewable energy projects under active progress of which 24 power plants are funded by the private sector and 65 more projects are being considered.

Speakers also included IUB Board of Trustees Chairman Mr. Abdul Hai Sarker and Vice Chancellor Tanweer Hasan, PhD; Dr. Sebastian Groh, the Founder Managing Director of Solshare (BD) Ltd.; IUB alumnus Mr. Wahidul Hasan, a PhD Candidate at the South Dakota School of Mines, USA, who distinguished himself by securing a coveted NASA grant for space battery development; renowned scientist Dr. Mubarak Ahmad Khan, the mind behind the globally recognized "Sonali Bag" crafted from jute polymer; and Ambassador Tariq Karim, the Director of IUB’s Center for Bay of Bengal Studies (CBoBS).

Among the distinguished attendees were the High Commissioners from Brunei, Sri Lanka, and Maldives, along with Ambassadors from Bhutan, Nepal and France in Dhaka. Representatives from the Australian, Canadian and Indian Embassies in Dhaka, the European Union, and a range of UN entities also attended the event.

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