The FINANCIAL — Hundreds of policymakers, energy experts, project developers and investors from around the world will gather in the Philippines this week to discuss boosting investments and technologies to advance clean energy solutions in the Asia and Pacific region.
Hosted by the Asian Development Bank, the Asia Clean Energy Forum is held annually to discuss technology transfer and finance in a range of areas, including energy efficiency, renewable energy, access to energy for the poor, and climate change. The forum is now in its fifth year.
“Building on our substantial response to climate change, we are committed to sharpening our focus on technology to meet the new needs of our developing member countries,” said ADB President Haruhiko Kuroda. “ADB’s position in the region gives us a strategic advantage in speeding up the adoption and deployment of clean energy across Asia and the Pacific.”
"The 21-25 June ACEF is organized by ADB and the United States Agency for International Development (USAID), with assistance from the World Resources Institute (WRI), and sponsorship from the governments of Australia, Japan, Norway, Spain and Sweden," ADB informs.
“The Asia-Pacific region has tremendous potential for deployment of clean energy as well as a critical need to transition to cleaner sources of power," said Olivier Carduner, Mission Director for USAID’s Regional Development Mission for Asia. "ACEF is an excellent venue to create the new partnerships that will help make this transition possible.”
According to WRI’s Executive Vice President and Managing Director Manish Bapna, “The simple reality we face is this: As we move toward a zero-carbon economy, Asia must lead the way. And that will only happen if governments understand it serves their goal of inclusive and sustainable economic growth. The forum is one step toward that goal.”
ADB has announced a range of initiatives to bring down barriers – such as price and policy issues – that prevent the wide-scale adoption of low-carbon and clean-energy technologies in the Asian and Pacific region.
These include ADB's Asia Solar Energy Initiative (ASEI) that aims to identify and develop large-capacity solar projects that will generate 3,000 MW of solar power by 2012.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members – 48 from the region. In 2009, it approved a total of $16.1 billion in financing operations through loans, grants, guarantees, a trade finance facilitation program, equity investments, and technical assistance projects. ADB also mobilized cofinancing amounting to $3.2 billion.