Climate technology Bangladesh can invest in for long-term sustainable development.
Welcome to the future, where sustainability and climate tech are at the forefront of everyone’s minds. It’s clear that the world is changing rapidly, and with it, our priorities. As we move into 2023, the importance of sustainability and climate tech continues to grow. From increasing awareness of the urgent need for action to the development of new technologies, there are a number of trends and predictions that will shape the future of sustainability and climate tech in the coming years. As a nation that is both vulnerable to the impacts of climate change and striving towards economic development, a glance can be taken at how Bangladesh is joining the sustainability marathon.
The Circular Economy
The circular economy has been a buzzword for quite some time now, but in 2023, we can expect it to take the centre stage. The concept of a circular economy is all about reducing waste and pollution, keeping products and materials in use, and regenerating natural systems. It’s not just an idealistic concept, but a practical approach towards sustainability. If Bangladesh can make the circular economy work, it can help to reduce waste and pollution which are serious issues in the country. Bangladesh generates around 22,000 tonnes of solid waste every day – a colossal amount. If we adopt circular economy principles in our operations, from designing products to implementing closed-loop supply chains, we can create a more sustainable future for ourselves and our planet.
Carbon Removal
The carbon removal industry is emerging as a new player in the sustainability game. Carbon removal technology involves capturing and storing carbon dioxide from the atmosphere or other sources. Many startups and companies are working on developing and scaling up carbon removal technology, with the goal of making it more affordable and accessible. This emerging industry has the potential to transform the way we think about carbon emissions and climate change, offering a much-needed lifeline in the race to mitigate and adapt to the impacts of global warming.
In Bangladesh, where the effects of climate change are already being felt acutely, the carbon removal industry could be a game-changer. The country has set a target of reducing its carbon emissions by 5% by 2030, and carbon removal technology could play a pivotal role in achieving that target. By investing in carbon removal projects and supporting the development of this emerging industry, Bangladesh can not only reduce its carbon footprint but also create new opportunities for economic growth and innovation.
By investing in carbon removal projects and supporting the development of this emerging industry, Bangladesh can not only reduce its carbon footprint but also create new opportunities for economic growth and innovation.
One example of a carbon removal project in Bangladesh is the ‘Feed the Future Bangladesh Aquaculture and Nutrition Activity’ (BANA) project, which aims to plant 500,000 mangrove trees in the Sundarbans region to sequester carbon and provide a habitat for wildlife. This project is not only helping to reduce carbon emissions but also supporting the livelihoods of local communities and promoting biodiversity.
Sustainable Transportation
Transportation is a significant contributor to greenhouse gas emissions, and it’s time for us to make a change. The electrification of transportation is no longer limited to just passenger vehicles. In 2023, we can expect to see the expansion of hybrid and electric technologies to trucks, planes, and boats. This shift is made possible by improvements in battery technology, more efficient electric motors, and the development of hybrid technologies that extend the range of these larger vehicles.
Regenerative agriculture, vertical farming, and alternative protein sources are some of the ways we can reduce the environmental impact of agriculture while increasing productivity.
One example of this shift is the development of electric and hybrid trucks. Companies such as Tesla, Daimler, and Volvo are already producing electric and hybrid trucks, with the goal of reducing emissions and improving fuel efficiency. Electric and hybrid trucks have the potential to revolutionise the logistics industry, offering a cleaner and more cost-effective way to transport goods.
The aviation industry is also exploring the use of electric and hybrid technology. While the technology is still in its early stages, there are promising developments in the works. For example, startup company Wright Electric is developing an electric plane that could potentially replace regional flights. In addition, companies such as Boeing and Airbus are exploring hybrid and electric propulsion systems for their planes.
Bangladesh has one of the highest numbers of motor vehicles per capita in the world, which means we have a lot of work to do. However, with the right investment in sustainable transportation, we can reduce our carbon emissions, save money on fuel, and create a more efficient and reliable transportation system.
Sustainable Agriculture
The food system must be addressed in order to tackle the great climate challenge, as it accounts for 1/3 of total emissions. Regenerative agriculture, vertical farming, and alternative protein sources are some of the ways we can reduce the environmental impact of agriculture while increasing productivity. The acceleration of fermentation-based solutions to create new, clean, protein-rich foods with fungi has the power to transform waste into food, and this deep tech innovation is just scratching the surface. Additionally, it is imperative that regionalised, regenerative solutions for soil, which serve as a critical carbon sequestration tool, are supported. This necessitates the use of climate-first agritech, supply chain tech, and fintech solutions.
Renewable Energy
Renewable energy is the future, and it’s not just about saving the planet, it’s about saving money too. Solar and wind power are becoming more cost-competitive with fossil fuels, and as the technology continues to improve, we can expect to see more businesses and governments investing in renewable energy infrastructure. Bangladesh has set a target of generating 10% of its electricity from renewable sources by 2021, but we’re far from achieving that goal. However, with the right investment in renewable energy, Bangladesh can not only reduce its carbon emissions but also create jobs and save money in the long run.
Green Buildings
Buildings are responsible for a significant amount of carbon emissions, and it’s time to make them more sustainable. Green buildings use environmentally friendly materials, energy-efficient systems, and renewable energy sources to reduce their carbon footprint. Bangladesh has a lot of potential for green building projects, with the construction industry booming in recent years. By investing in green buildings, we can not only reduce our carbon emissions but also create a healthier and more comfortable living environment for our citizens.
Artificial Intelligence for Sustainability
Artificial intelligence (AI) has the potential to revolutionise sustainability and climate tech. AI can analyse large amounts of data and identify patterns, helping us to make more informed decisions about resource management and energy efficiency. Bangladesh can benefit from AI technology in various ways, from improving crop yields to optimising energy usage in buildings. By embracing AI, we can make significant progress towards achieving our sustainability goals.
With so many potentials to tap into, the future of sustainability and climate tech is looking bright. Constant research, development, and innovation are driving sustainability efforts forward at an incredible pace. People have come to recognise that sustainability can be adopted in every aspect of a product’s life cycle. The increased awareness about the importance of sustainability and the rapid advancements in technology gives hope to look forward to significant progress across various fields in the coming years. Right now, if Bangladesh keeps working on making its economy circular, implementing carbon removal and storage technology, and investing more in renewable energy projects, we will not stray from achieving our sustainable development goals. Our end goal should be to promote sustainability in transportation, agriculture, and urbanisation. It’s time to make a difference, not just for ourselves, but for future generations as well.