Beijing, Oct 26, 2006 AEST (ABN Newswire) - We have to make smart choices for the infrastructure investments today that have climate change consequences that future generations will have to live with, a senior Asian Development Bank (ASX: ATB) official told a meeting on Asia and Pacific's carbon market potential today.
"The world is coming to grasp the effects of greenhouse gas emissions and the urgent need to address climate change," Bindu Lohani, an ADB Director General, told the opening plenary session of the Carbon Expo Asia in Beijing. "What we need is a transition to a low-carbon economy. The infrastructure decisions made now will have climate change impacts for decades _ this is a significant responsibility."
Mr. Lohani, who heads ADB's Regional and Sustainable Development Department and is a Special Advisor to ADB's President on Clean Energy and Environment, said there are a few vital elements in moving toward a low carbon economy.
One is that existing energy efficiency technologies need to be spread to the residential, commercial, and transport sectors, where energy consumption has been on the rise while neglecting many cost effective energy efficiency opportunities.
Another is that development partners should assist in bringing down the cost of new technologies so they can be used by emerging economies. "The perceived risks and anticipated costs to install some cleaner technologies in substitute to existing, more traditional, forms of fossil fuel generation continue to be prohibitive," he said.
Donors and international financial institutions have an important role to play in providing technical advice along with concessional finance to promote better access to technology that will help reduce greenhouse gas emissions, he added.
These initiatives will require enormous effort and investment from the development community, he pointed out, involving public and private sector partners.
ADB, for its part, has put together a Clean Energy and Environment Program, comprising several initiatives.
These include the Renewable Energy, Energy Efficiency and Climate Change (REACH) Program promoting investment in greenhouse gas abatement and renewable energy technologies; Energy Efficiency Initiative, which plans to expand ADB's investments in energy efficiency projects to $1 billion a year; and the proposed Carbon Market Initiative, to provide upfront support for carbon reducing projects.
More than 50% of the population in Asia live in the growing number of mega cities, Mr. Lohani said. The lifestyle of living in the suburbs and working downtown is not sustainable.
"We have to start promoting sustainable management of Asian cities through better land use planning and sustainable urban transport systems," he added.
ADB is a joint sponsor of the Carbon Expo Asia, a trade fair and conference, that is bringing together 80 speakers in 15 workshops and 5 plenary sessions over two days.
Contact
Graham Dwyer
Email: gdwyer@adb.org
Tel:+632 632 5253; Mobile: +63 920 938-6487
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