Commonwealth governments have committed to lowering CO2 emissions considerably to fight climate change.
And to facilitate a smooth and affordable transition to renewable energy in both developed and emerging economies, the Common Wealth Enterprise and Investment Council recently hosted the webinar "Commonwealth Clean Energy Conversation."
The speakers at the webinar discussed the challenges in investment opportunities and how the Commonwealth can act as a platform to coordinate and share knowledge and to advance the transition to green economies.
They also discussed how local renewable energy initiatives can be financed through the Commonwealth platform.
The existing challenges of the energy sector and the road forward came to the fore as early as the 1960s, but "financing multilateral initiatives for the transition to happen is where we can work more," Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) President Sheikh Fahim said at the webinar.
"The modalities and business models of renewable energy are not very common; local governments and banks are not enough. But through global platforms and resources such as that of Commonwealth, these issues can be addressed."
BMW Group is "setting the course for the future of mobility" in Germany and "continues to expand charging infrastructure for electrified vehicles."
Highlighting that, Fahim said, "Resource and knowledge transfers on such existing initiatives will be crucial in multilateral cooperation" for an easy transition to green and renewable energy.
Magdalena Kouneva, director general of Renewable Energy and Energy Efficiency Partnership; Dr Tony Juniper, CBE, board member of Cool Earth; and Richard Abel, managing director of UK, Climate Invest LLP (Macquarie Group), and other big energy policy influencers also attended the webinar.