With an energy crisis looming, Asian Development Bank (ADB) President Haruhiko Kuroda today called on Asian nations to “take radical steps” to increase energy efficiency and invest in renewable energy.
Asia and the Pacific’s strong economic growth and its increasing population are generating the world’s fastest growing 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 hard-won 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.
“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,” said Mr. Kuroda in an introduction to the 6th Asia Clean Energy Forum (ACEF) in Manila today. “An important key to lowering energy intensity is the elimination of fossil fuel subsidies and transition to renewable energy. Asia must also take radical steps to increase energy efficiency.” [Read more...]