News and Events

printer friendly version

"What major initiatives have been planned or initiated under the strategy to address the pressing energy security concerns of Asia-Pacific countries at present?"

Remarks by
Ursula Schaefer-Preuss
Vice President, Knowledge Management and Sustainable Development
Asian Development Bank

At the Ministerial Round Table on Energy Security and Sustainable Development in Asia and the Pacific. Sixty-fourth Session of the Economic and Social Commission for Asia and the Pacific.

28 April 2008
United Nations Conference Center, Bangkok, Thailand

Introduction

Thank you. Executive Secretary of UNESCAP, Your Excellencies, distinguished guests, ladies and gentlemen, I am honored to be here to discuss ADB's efforts to address energy security and sustainable development in Asia and the Pacific region at this Ministerial Round Table.

Our region's remarkable success in rapid economic growth and poverty reduction is now well known. In less than a generation, many parts of Asia and the Pacific have transformed their economies, and they are now among the most vibrant and dynamic economies of the world. Overall, people in our region today are healthier, better educated and far better off than they were a generation ago.

Poverty in Asia and the Pacific, however, remains pervasive, with more than 600 million people still living on $1 a day or less. Moreover, about 1 billion are still without access to electricity. Because of population growth, this number is expected to rise to 1.4 billion by 2030. Expanding energy access therefore remains a major development challenge in Asia. Further, the poor in the region is particularly vulnerable to the ongoing surge in global food and fuel prices.

Preparing ADB's New Energy Strategy

In view of changing context in the region-rising energy demand, high and often volatile energy prices, climate change, and energy access, ADB is committed to supporting our developing member countries move toward low carbon economies while addressing their energy needs. This commitment is highlighted in the ADB's new Energy Strategy which will guide our energy sector operations in the future.

ADB's new Energy Strategy, expected to be finalized soon, aims to support our developing member countries to secure reliable and affordable energy supplies in an economically, socially and environmentally sustainable way. The new Strategy will have three pillars: (i) promoting energy efficiency and renewable energy; (ii) maximizing access to energy for all; and (iii) promoting energy sector reform, capacity building and governance.

ADB's Initiatives

To implement the forthcoming Strategy, ADB has launched a number of initiatives which include financing mechanisms to support of developing member countries. They include:

• The Energy Efficiency Initiative which aims to expand ADB's clean energy portfolio to $1 billion a year by end of 2008;



• The Carbon Market Initiative which provides upfront financing and technical support to developers and sponsors of projects with GHG mitigation benefits that can quality as an eligible Clean Development Mechanism project under the Kyoto Protocol;



• The Sustainable Urban Transport Initiative which will provide advice and financing public transport innovations and new mobility patterns to reduce GHG and other pollution;



• Energy for All Initiative to increase access by rural and urban poor to modern and cleaner forms of energy and therefore bring our developing member countries much closer to achieving the MDGs.

In promoting energy security and access, ADB is keenly aware of its implications to climate change. Accordingly, to complement the Strategy, we are also moving forward with the Climate Change Program, to promote clean and efficient technologies and practices and help improve the region's resilience to climate change. Overall, our goal is to provide a package of financing, knowledge, and advisory services on a key number of areas so that our developing member countries can more effectively pursue a path of sustainable development. In addition to energy, or mitigation, component - we will also support the countries on adaptation and other social implications of climate change, through our Climate Change Adaptation Program.

Needless to say, multilateral cooperation and action is crucial. These activities are in line with the Investment Framework on Clean Energy and Development which has been developed under the G-8 Gleneagles Plan of Action. We are also working closely with the other multilateral development banks to develop the proposed Climate Investment Funds aimed to promote transition to a low-carbon development and climate resilient economies. Finally, ADB has been very active in identifying private solutions and partnerships to address this issue. We believe this is a case where a true public-private partnership is required.

Concluding Remarks

Ladies and gentlemen, honored guests, I want to thank you again for inviting me to this important event. I hope I have been able to provide you brief but compelling reasons for more support on energy for Asia-Pacific region, and the actions that ADB will take on behalf of the region's developing member countries.

Thank you.