ADB launches sustainable energy for all at Delhi event
DELHI, INDIA - The Asian Development Bank (ADB) is co-hosting the
Asia regional rollout of the International Year of Sustainable Energy
for All today, part of the UN's global initiative for achieving
universal access to modern energy by 2030.
"A staggering 1.9 billion people in Asia and the Pacific are limited
in their education, health and livelihood opportunities because they
have no access to either electricity or modern fuels.
Providing clean, efficient forms of power to all is essential in
helping the region's poorest communities benefit from Asia's economic
boom," said ADB's Vice-President for Knowledge Management and
Sustainable Development, Bindu Lohani.
The event brings together leading organizations, including The Energy
and Resources Institute, UN-Energy, UNIDO, and the UN Foundation, to
raise awareness of the importance of modern access to energy for human
development.
Providing universal access to basic energy will require annual
investments of around $48 billion according to International Energy
Agency estimates. The ADB has invested approximately $2.8 billion for
energy projects since the launch of its Energy for All Initiative in
2008. Given the vast development needs, ADB also seeks to mobilise funds
from the private sector through public private partnerships and by
developing bankable projects that can attract cofinancing support.
The rollout event takes place ahead of the Delhi Sustainable
Development Summit, which will take stock of progress made since the
1992 Rio de Janeiro Earth Summit and set the agenda for future
sustainable development strategies.
The International Year of Sustainable Energy for All initiative
advocates for universal access to energy, a doubling of the rate of
improvement in global energy efficiency, and a doubling of the share of
renewable energy in the global energy mix.
ADB will play a leading role in the international initiative through
its Energy for All and Clean Energy programs, and through the ADB-led
Energy for All Partnership, which seeks to provide modern energy access
to 100 million people by 2015. In less than 10 years, ADB's annual clean
energy investment has gone from $225 million in 2003 to nearly $2.2
billion in 2011. The demand from developing member countries for clean
energy investments is likely to increase in the future.
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