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MANILA -- More than 350 million people in developing Asia still lack access to electricity, Asian Development Bank (ADB) President Takehiko Nakao said on Tuesday, stressing the need to have a sustainable and secure energy supply in the region.
"A sustainable and secure energy supply remains essential as more than 350 million people still lack access to electricity in our developing member countries (DMCs). It is also a key part of the fight against climate change," Nakao said at the opening panel discussion of the Asia Clean Energy Forum (ACEF) 2019 at the ADB headquarters.
"People around the world are demanding affordable energy, clean air, and a more responsible approach to the environment," Nakao added.
The four-day forum, which opened Tuesday, underscores that the advancement of affordable and reliable clean energy is not only at the forefront of Asia and the Pacific's development progress, it is also at the heart of the region's development of resilient infrastructure and fight against climate change.
The forum also highlights the need to focus on collaborative partnerships, ideas, and efforts that have market potential, with the goal of delivering tangible clean energy impact across the Asia and Pacific region.
Through Strategy 2030, the Manila-based bank has committed at least 75 percent of its operations to support climate change mitigation and adaptation efforts by 2030. Climate finance from ADB's own resources will reach 80 billion U.S. dollars for the period 2019 to 2030.
ADB has affirmed its commitment to advanced technologies in sustainable energy by launching its first innovation technology challenge, which will invite technology providers to submit proposals for grants from the High-Level Technology Fund which is supported by the government of Japan to address energy-related development challenges.
This new modality aims to build partnerships with technology providers and accelerate innovative technology development and deployment in DMCs, the ADB said.