Background

Energy demand in the Asia and Pacific region has increased rapidly fueled by strong economic and population growth over the recent decades. The expansion of the energy sector was largely based on fossil fuels, which increased the greenhouse gas emissions emanating from the region drastically. Given the threat posed by climate change, Asia Pacific countries need to decarbonize their energy systems and embark on an energy transition. Clean energy technologies have witnessed significant cost reductions in recent years making them viable alternatives to existing fossil-fired technologies. ADB is committed to supporting its developing member countries in achieving Sustainable Development Goal 7, universal access to affordable, reliable and modern energy services, and also accelerating energy transition to mitigate global climate change under the Paris Agreement. In this regard ADB will support the deployment of renewable energy, energy efficiency and conservation, and measures to reinforce grid stability to enable the integration of large share of variable renewable energy.

Bilateral and multilateral cooperation to analyze the impact of innovative technologies and share best practices for the development, dissemination and deployment of new technologies and enabling policy and regulatory frameworks for private investment is paramount to intensify the decarbonization of the energy sector. The Cleaner Energy Future Initiative for ASEAN (CEFIA), initiated by METI, Japan, seeks to support such knowledge sharing to advance international actions to tackle climate change and enhancing environmental sustainability, in collaboration with ADB.