ADB to boost clean energy programme
Wednesday, 27 June 2007
MANILA, June 26 (AFP): The Asian Development Bank (ADB) said today it was planning to boost its clean energy program to one billion dollars annually amid warnings Asia's contribution to green gas emissions could get worse.
ADB president Haruhiko Kuroda said the region faced a "daunting challenge in securing energy" and expanding economies needed to spend more on clean energy technologies.
"About 70 per cent of Asia's energy needs are dependent on fossil fuels - - a primary source of greenhouse gases. Asia now accounts for one quarter of the world's gas emissions," Kuroda said.
A major chunk of the investments would likely go toward coal- fired power plants to produce electricity, leading to global carbon dioxide emissions.
ADB president Haruhiko Kuroda said the region faced a "daunting challenge in securing energy" and expanding economies needed to spend more on clean energy technologies.
"About 70 per cent of Asia's energy needs are dependent on fossil fuels - - a primary source of greenhouse gases. Asia now accounts for one quarter of the world's gas emissions," Kuroda said.
A major chunk of the investments would likely go toward coal- fired power plants to produce electricity, leading to global carbon dioxide emissions.