Clean energy can ensure a brighter, sustainable future for Bangladesh: Peter Haas 

Given the crisis inflicted by the Russia-Ukraine war, energy-hungry countries like Bangladesh need a transition to renewable and clean energy sources, says US Ambassador to Dhaka Peter Haas. 

Apart from overcoming the ongoing energy crisis, Bangladesh requires this transition to sustain economic growth and development, he said while virtually addressing the Indo-Pacific Business Forum (IPBF) held in Manila, Philippines, today (21 May). 

"Finding ways to harness solar, wind, hydro, hydrogen, and other energy sources is the path to energy security and is necessary to support continued economic growth and sustainable development," a statement from the US Embassy in Dhaka quoted Haas as saying. 

Criticising Russia for its role in creating a global energy crisis, the US envoy said, "All nations, therefore, must develop a plan to solidify their energy security based on a diversified portfolio of resources."

To achieve a just energy transition, the government, private sector, and civil society in Bangladesh have to contribute, according to him. 

It will also require good policies in place to incentivise smart investments and cross-border electricity trade, the privatisation of underperforming state-owned assets, the adoption of new technologies, and a phasing out of the most damaging fossil fuel power generation facilities. 

Haas said, "This will not happen overnight. It will take years to accomplish. But we can accomplish it faster if we work together and share our collective knowledge."

"Empowering Bangladesh with clean energy today means a brighter, sustainable future for generations to come," he added. 

The forum is the premier public-private US government event to promote trade, investment, and economic cooperation between the United States and its partners throughout the Indo-Pacific region. 

This year's event convened 500 leaders from across the region, including through a live stream for virtual participation and satellite events in Bangladesh and Sri Lanka.

The one-day event in Manila was co-hosted by the US Trade and Development Agency and the Government of the Republic of the Philippines, in partnership with the US Department of State.

IPBF connected CEOs, project developers, government officials, and sources of financing for priority infrastructure in emerging Indo-Pacific economies. 

Through speeches, breakout panels, and business matchmaking, participants learned and shared their insights on the latest trends, opportunities, and solutions to support infrastructure across all sectors. 

IPBF is also created a chance to learn more about government tools and programs to support US participation in the region's priority projects.