With the focus on regional electricity trading and the potential of sustainable investment for cutting carbon emissions, a meeting of 'Climate Parliament' was held at the southern resort of Wadduwa between November 16 and 18.
"We believe the development of a regional grid in South Asia a transmission network that could link wind, solar, hydro and other renewable energy sources and create a mechanism for energy trading between the regional neighbours to promote reliable and sustainable energy for all can be a much desired solution for improving access to energy and promoting economic growth in South Asia," the declaration said.
"This will also reduce dependence of fossil fuels," it said.
Energy supply and security are issues of great importance for the entire region to sustain growth, the parliamentarians observed.
"Each country in the region should endeavour for a short and long term plans to develop renewable energy resources," the declaration said.
The climate parliament recognised that South Asian region comprising of eight countries was extremely rich in renewable reserves.
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However, the extent of development of renewable energy remains only a small fraction of the power supply.
Some attempts have been made in the recent past in a few countries to tap the resources, the region, as a whole, lacks a complete, accurate and updated assessment of its renewable energy potential.
The parliamentarians urged their governments to engage in discussions of the possibilities for renewable energy in locations where resources are most abundant, for export to areas of high demand.
For example, large-scale solar power could be generated in India to supply the Bangladesh market, they said.
"We urge our governments to develop concrete proposals for financing, including public-private risk-sharing, for discussion with multilateral agencies," the parliamentarians said.