Manila: The Asian Development Bank (ADB) is ready to play a leading role in helping Asia and the Pacific meet its Nationally Determined Contributions (NDCs) under the Paris Agreement and achieve net-zero emissions by mid-21st century, participants at the Asia Clean Energy Forum (ACEF) 2021 heard today.
"Now is the time for bold action," said ADB President Masatsugu Asakawa in a press release on Tuesday.
"We must commit wholeheartedly to fighting climate change and meeting the emission-reduction goals under the Paris Agreement, while ensuring universal energy access in a region where more than 200 million people still lack access to electricity," he stated.
Asakawa said that this will require major changes in the energy sector including avoiding fossil fuels, switching to low-carbon fuels, deploying more renewable energy, and improving energy efficiency among others.
He added that ADB plans to step up its climate finance and capacity-building activities to help its developing member countries (DMCs) achieve their NDC.
Co-hosted by ADB, the United States Agency for International Development (USAID), and the Korea Energy Agency (KEA), ACEF runs from June 14–18.
More than 3,000 delegates are expected to join the online event including policy makers, energy and private sector professionals, and civil society organizations from around the world.
Under the theme "Accelerating the Low Carbon Transition in Asia and the Pacific," this year’s event will explore technology road maps to achieve the NDCs, understand the impact of the coronavirus disease (COVID-19) on the region’s energy systems, and how to foster a green recovery.
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