ADB to step up flow of low-carbon technologies to Asia
Lima, Peru: A new service set up by the Asian Development Bank (ADB)
aims to match buyers and sellers of low-carbon technologies to speed
technology transfer to developing Asia.
"Asia is the tip of the spear as far as climate change impact is
concerned. We need to ensure a swifter flow of tested and up-and-coming
low-carbon technologies to the region so that it can decrease and adapt
to the changing climate," said ADB Vice-President for Knowledge
Management and Sustainable Development, Bindu N. Lohani.
The first-of-its-kind technology exchange was launched on the
sidelines of the United Nations Framework Convention on Climate Change
(COP20) meeting here.
The pilot service will initially focus on clean energy and energy
efficiency technologies with the average transaction size expected to be
$2 million-$5 million.
Called IPEx Cleantech Asia, the exchange will broker technology
transfers from developed countries to developing Asia and between
developing Asian nations and provide a platform for knowledge sharing.
The service will be run by a Singapore-based joint venture comprising
DNVGL's Clean Technology Centre in Singapore, part of
Norway-headquartered, global advisory firm DNVGL AS, and ReEx Capital
Asia, a Singapore clean energy investment banking and consulting firm.
"We have already pulled together a consortium of partners to join our
intellectual property technology transfer marketplace. We are committed
to making a positive impact in developing Asia in line with the
objectives of ADB through this pilot and beyond," the two private sector
firms said in a joint statement.
Developing Asia has an urgent need for country-specific technologies
to help it to reduce carbon emissions from energy, industry and
agriculture and to adapt to climate change impact such as rising sea
levels, more water salinity, and uncertain weather conditions.
Many technologies, whether nascent or mature, are available in
developed countries but developers struggle to connect with those who
could best use them in developing countries.
ADB expects buyers of the technologies to include manufacturers,
project developers and governments while sellers would likely be
innovation design companies, university laboratories and multinational
firms selling intellectual property rights.
The new mechanism is co-funded by ADB, the Government of Japan, the
Global Environment Facility and Belgium-based VITO-Flemish Institute of
Technological Research. Over time, the venture is expected to evolve
into a full-fledged independent business.
ADB, based in Manila, is dedicated to reducing poverty in Asia and
the Pacific through inclusive economic growth, environmentally
sustainable growth and regional integration.
Set up in 1966, it is owned by 67 members - 48 from the region. In
2013, ADB assistance totalled $21.0 billion, including cofinancing of
$6.6 billion. |