ADB Highlights Investment in Energy

Jakarta (Antara Bali) - The Asian Development Bank (ADB) will boost investment in end-user energy efficiency to help Asia and the Pacific tackle surging power demand and growing environmental threats from greenhouse gas emissions.

"There is huge potential for saving energy by making buildings, vehicles, machinery, and water pumps more energy efficient to the benefit of consumers and the environment, and the time is right for ADB to do more in this area," said Bindu N. Lohani, ADB's Vice-President for Knowledge Management and Sustainable Development, at the opening of the Eighth Asia Clean Energy Forum in Manila, Friday .

"We want to promote demand-side energy efficiency through public and private sector partnership, with ADB taking a lead role in providing customized policy advisory services, technical assistance, and innovative financing support in developing member countries," he added.

A new ADB study, "Same Energy, More Power: Accelerating Energy Efficiency in Asia", highlights the booming demand for power in developing Asia.

The region's share of primary global energy consumption is set to rise from 34 percent in 2010 to as much as 56 percent in 2035. By then, most Asian countries will produce less than half of the energy they need, forcing substantial fuel imports.

Using energy more efficiently reduces the need to build power plants and lowers imported fuel bills, potentially freeing up government funds for spending elsewhere. This spending could include provision of electricity to the estimated 628 million people in the region who currently have no supply.

Implementing energy efficiency measures is more cost effective than expanding energy generation. The report notes that energy efficiency investments equivalent to 1-4 percent of energy sector spending could meet as much as 25 percent of the projected increase in primary energy consumption in developing Asia by 2030.(*/DWA)