Commodity Champions | Next 5 years crucial to start decarbonisation biz, says expert

The India Energy Week 2023 brought international and national experts from the energy sector together - putting the green energy conversation at centrestage. Speaking of renewables transition, Japan's Ryo Minami said that next five years are crucial for Japan to start decarbonisation business.

“Business including energy business must be activated. So next five years is very important period for us to start decarbonisation business,” he said.

Decarbonisation has become one of Japan's top priorities as it aims to tackle climate change. According to Ryo Minami, from the Agency For Natural Resources & Energy, the next five years will be crucial to start decarbonisation business. This is because carbon utility is a big change that will affect all countries.

Japan has always been at the forefront of technology and innovation. As it focuses on decarbonisation, it can bring good green technology to Asian countries, which are rapidly developing and require sustainable solutions. Japan's expertise can be instrumental in developing sustainable and eco-friendly solutions for the region.

The urgency to tackle climate change is paramount, and it is necessary for all countries to come together to find effective solutions. Japan's focus on decarbonisation is a step in the right direction, and other countries should follow suit.

“Japan has good connection with India and other Asian countries, so we can make good change with such countries,” he added.

With the next five years being crucial, it is essential that governments and businesses take concrete actions to reduce carbon emissions and promote sustainable practices.

Vishal Kapoor, CEO, Energy Efficiency Services, Francesco La Camera, Director-General at International Renewable Energy Agency (IRENA) discussed India's move towards diversifying its energy mix.

The whole world has been facing an energy crisis due to the Russia-Ukraine war. Some developing countries like Bangladesh which is a net importer of energy felt that they were priced out of the market when the prices rose significantly. Tawfiq-e-Elahi Chowdhury, Energy Adviser to Bangladesh Prime Minister (PM) for power, energy and mineral resources affairs, discussed how Bangladesh dealt with the energy crisis at India Energy Week.