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Asia Clean Energy Forum Calls for Investments to Enhance Energy Security and Address Global Warming

Asia_clean_energy_forum

3 June 2008: Private and public

sector participants in the Asia Clean Energy Forum, which convened from 2-6

June 2008, in Manila, the Philippines, called for new investments in clean

energy, amid spiraling costs for oil and coal and the growing threat of climate

change.

Asia is estimated to need up to

US$6.4 trillion in new energy infrastructure by 2030 and, unless there is a

move away from oil and coal, these countries are expected to continue to be

vulnerable to price hikes in these commodities and they will further contribute

to climate change. During the Forum, Ursula Schäfer-Preuss, Vice President of

the Asian Development Bank (ADB, announced that the ADB had already achieved

its annual target of US$1 billion in clean energy investments for Asia and the Pacific, and expected to

surpass it by 50% at the end of 2008.   [ADB-USAid

News Release] [Asia Clean

Energy Forum (ACEF) 2008]