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BANGLADESH'S COMMITMENT
To The Paris Agreement And Net Zero 2050
Bangladesh has committed to reducing its greenhouse gas (GHG) emissions by 5% unconditionally by 2030, with the potential to reach 15% reductions with international support, in line with the Paris Agreement. The country is also working towards achieving Net Zero emissions by 2050. A significant aspect of Bangladesh’s climate strategy is enhancing energy efficiency in government and commercial buildings, which are key contributors to the nation’s energy consumption and carbon emissions.
However, Bangladesh faces challenges such as aging infrastructure and limited financial resources, which hinder the widespread adoption of energy-efficient technologies. ESCO Financial helps address these challenges through its Energy Efficiency-as-a-Service (EEaaS) model, which provides the necessary capital to upgrade critical energy systems. These include HVAC units, boilers, chillers, smart controls, motors, compressors, air handling units, and lighting systems. These upgrades lead to significant reductions in energy consumption and GHG emissions, helping Bangladesh move closer to its climate goals.
The International Performance Measurement and Verification Protocol (IPMVP) is essential in measuring and verifying the energy savings achieved, ensuring that Bangladesh’s energy efficiency measures result in quantifiable carbon reductions. This supports the country’s commitments under the Paris Agreement and attracts further international investment.
Bangladesh also faces significant challenges in waste management, particularly with methane emissions from landfills. ESCO Financial’s Waste-to-Energy-as-a-Service (WtEaaS) model offers a sustainable solution by converting waste into energy, reducing landfill dependency, and aligning with Bangladesh’s Paris Agreement goals. This approach helps Bangladesh mitigate methane emissions and generate renewable energy, accelerating its progress toward Net Zero by 2050.
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