Manila, June 22, 2006 AEST (ABN Newswire) - Asian Development Bank (ASX: ATB) will begin the second phase of its Energy Efficiency Initiative (EEI) in the second half of this year, under which around US$1 billion a year is planned for renewable energy and energy efficiency projects.
The first phase of the EEI, which established a rationale and prepared initial analysis of the clean energy market and priorities, is complete, Anil Terway, a Director in ADB's East Asia Department, told the opening session of Clean Energy Week at ADB's Manila Headquarters yesterday.
The second phase from the second half of this year to the end of next year will develop country-level action plans as well as ADB's clean energy strategy and action plan, before Phase III (2008-2010), which will mark the implementation of non-lending and lending projects.
"Asia's current energy development path is environmentally and economically unsustainable," Mr. Terway, who is the Chair of ADB's Energy Efficiency Initiative Task Force, told the meeting.
Ensuring low-carbon and sustainable energy consumption in the future will require more investments both on the supply-side and use-side that target energy generation, delivery and end-use equipment, facilities, buildings, and infrastructure that deliver higher useful energy outputs or services, he said.
But there are several gaps in understanding the role and potential of energy efficiency, he added.
Recognizing the obstacles, ADB's EEI will select projects consistent with policies, priorities and targets of its developing member countries, valuing pioneering, replicable and scalable investment models.
It will help the countries change their energy use patterns and secure a low-carbon future for the region.
ADB's Clean Energy Week concludes on Thursday. Over three days, major players in the Asian energy agenda - including representatives of developing countries, donor governments, nongovernment organizations, and the private sector - will discuss, debate and exchange experiences on energy issues and climate change.
Contact
Graham Dwyer
Email: gdwyer@adb.org
Tel:+632 632 5253; +632 898 3413; +63 915 741 4363
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