Tag: asian development bank

Four Paths to a Climate-Friendly Energy Transition for Asia and the Pacific

In the transition to renewables, there is an inherent tradeoff that needs to be managed.  Economic growth requires a stable base load power, which is currently serviced by fossil fuels. This must be carefully balanced against the longer term need to switch to renewable sources. For a successful energy transition, developing countries in the region need to work with their partners to address geopolitical issues, technological limitations, and financial constraints.

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We have been stepping up our climate financing: ADB’s Masatsugu Asakawa

We must confront the uncomfortable truth that our region is a source of more than 50 per cent of annual global greenhouse gas emissions. It is clear that bold and urgent action is needed to combat the great challenges we face. For this, we must implement new and innovative policy solutions to ensure green, inclusive, and sustainable development. We have been stepping up our climate financing. We raised our ambition to provide 100 billion dollars in cumulative climate finance between 2019 and 2030.

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Securing a Clean Energy Future for Asia and the Pacific

The message for the world from the recent COP26 meeting in Glasgow is clear – we must reduce greenhouse gas (GHG) emissions and one of the biggest sources is energy. But how do we balance the growing need for energy across Asia and the Pacific, with the imperative to reduce GHGs? Now is the time for bold action and a future powered by diverse, renewable energy sources will be more equitable and prosperous for all.

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Energy Policy 2021: Supporting low-carbon transition in Asia and the Pacific

To align its energy operations with Strategy 2030, ADB reviewed its 2009 policy, recognising the changing contexts and increasing needs of ADB’s developing members while mindful of the impacts of increasing energy use on the climate and environment. Recently, in October 2021, ADB approved a new Energy Policy that aims to support universal access to reliable and affordable energy services while promoting the low-carbon transition in Asia and the Pacific.

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ADB’s Green and Blue Bonds Framework

The green and blue bond program enables the Asian Development Bank (ADB) to support its developing member countries seeking to deliver environmentally sustainable growth to help reduce poverty and improve the quality of life of their people. Both green bonds and blue bonds would include investments such as construction of new assets, as well as maintenance, enhancement, improvement or repair of existing assets. Green bond- and blue bond-eligible projects would exclude lending to financial intermediaries.

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