2 November 2010 – eco-business.com
Asia must embrace clean energy for the sake of its own security, said an Asian Development Bank official on Tuesday.
Speaking at the opening ceremony of the Clean Energy Expo Asia 2010, ADB’s WooChong Um told the audience that the growth of Asian economies has led to an equally large increase in energy demand which is being met through the use of fossil fuels.
This, in turn, has increased the dependence of the region on oil – the market for which has historically been shown to be unstable, especially as global reserves of fossil fuels dwindle. More dangerously, high oil prices have been shown to significantly impact economic growth.
“Clearly, over-reliance on fossil fuels places Asia in a very precarious situation with regards to energy security,” said Mr Um, who is deputy director of the ADB’s Regional and Sustainable Development Department.
Asia’s demand for fossil fuels have also made it a major contributor to climate change. The region’s current carbon dioxide emissions make up 30 percent of global carbon dioxide (Co2) emissions. This means that even if the developed world achieves an 80 percent cut in greenhouse gas emissions by 2050, the atmospheric concentration of greenhouse gases will not reduce or even stabilize unless the Asian economies make a concerted effort to reduce their own emissions, said Mr Um. Read more…
