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Asia Must Take 'Radical Steps' on Energy |
| Source: |
http://www.asianewsnet.net/ |
| Source Date: |
Thursday, June 23, 2011 |
| Focus: |
Electronic and Mobile Government, Citizen Engagement, Internet Governance
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| Created: |
Jun 27, 2011 |
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With an energy crisis looming, the Asian Development Bank (ADB) president Haruhiko Kuroda yesterday called on Asian nations to "take radical steps" to increase energy efficiency and invest in renewable energy.
The Asia-Pacific region's strong economic growth and increasing population are generating the world's fastestgrowing demand for energy.
It is estimated that energy requirements in the region will double by 2030. If left unchecked, the lack of energy security may reverse the region's hardwon gains in poverty reduction.
Continued reliance on fossil fuels will also increase the threat of climate change, thus affecting millions of Asia's poor and vulnerable through increased natural disasters and shortages in food and water, the bank believes.
"Asians have more to lose from climate change than any other people. The climate fight will be won or lost by decisions made in this region," Kuroda said in an introduction to the sixth Asia Clean Energy Forum (ACEF) in Manila yesterday (June 22).
"An important key to lowering energy intensity is the elimination of fossilfuel subsidies and transition to renewable energy. Asia must also take radical steps to increase energy efficiency."
To meet the rising demand for energy and improve the lives of 800 million people in Asia with no access to electricity, a significant push is needed to fasttrack new business models and policies for clean-energy development, the ADB says.
With more than 500 participants from 60 countries in attendance, the ACEF is coorganised by the US Agency for International Development, the World Resources Institute, and ADB to promote dialogue on scaling up cleanenergy efforts in Asia and the Pacific.
Last year, the ADB invested US$1.76 billion in clean energy and says it is on target to meet its goal of reaching $2billion annually by 2013.
The ADB's Asia Solar Energy Initiative was launched last year to help develop 3,000 megawatts of new solar energy by 2013. In addition, the bank recently announced a plan to inject $60 million into three venturecapital funds that will provide earlystage financing support for new climatetechnology products. This initiative is expected to leverage more than $400 million in privatesector investment.
Guest speakers at the ACEF include Amory Lovins, cofounder, chairman and chief scientist of the Rocky Mountain Institute (by video), and Mohamed ElAshry, senior fellow of the UN Foundation and chairman of the Renewable Energy Policy Network for the 21st Century (REN 21).
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Asia Must Take 'Radical Steps' on Energy With an energy crisis looming the Asian Development Bank ADB president Haruhiko Kuroda yesterday called on Asian nations to take radical steps to increase energy efficiency and invest in renewable energy
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