Proper policies for corporate power purchase agreements (CPPAs) are crucial for the transition towards net zero as those will enable corporations to reduce their carbon footprint by utilising clean energy sources, experts said yesterday.

Grameenphone is committed to reducing its carbon emissions and the CPPAs are essential in achieving this objective, said Hans Martin Hoegh Henrichsen, chief corporate affairs officer of the telecom operator.

He also spoke of challenges faced by private sector entities when abiding by the CPPAs and their advantages, including attracting foreign direct investment and assisting in meeting the government's renewable energy targets.

Henrichsen was speaking at a panel discussion, titled "Greening the Grid", organised by the mobile network operator at its Dhaka corporate office to bridge the policy gap and advocate for the CPPAs.

According to Grameenphone, policy reforms concerning CPPAs in Bangladesh are essential for supporting its goal of reducing carbon dioxide emissions by 50 percent by 2030, from the baseline year of 2019.

Nahim Razzaq, a lawmaker and convenor of Climate Parliament Bangladesh, highlighted the existing legislative framework in Bangladesh concerning the CPPAs and spoke of essential policy changes needed for it.

He discussed the involvement of parliamentary committees in propelling policy reform in this domain.

Erik Solheim, former minister for environment and international development, Norway, shared insights from Norway's grid greening experience and explored international best practices for Bangladesh to glean from in its transition towards renewable energy sources.

Espen Rikter-Svendsen, ambassador of Norway to Bangladesh, also spoke.