Rapid economic growth in the past two decades has brought prosperity to millions of people across Asia and the Pacific. This growth was powered by abundant and affordable energy, the backbone of all progress. However, affordable energy has its own costs, environmental, social and political. Asia and the Pacific will be hit hard by climate change and the region seeks to decrease its rising greenhouse gas emissions to mitigate the worst effects. Similarly, questions of energy security have arisen with the region’s increased dependence on imported fossil fuels and the volatility in that market.
Matching the priorities of its developing member countries (DMCs) ADB seeks to address these concerns through a number of initiatives and see the region to an environmentally sustainable, secure future.