Asian Development Bank (ADB) has approved a new energy policy to assist universal access to reliable and affordable energy services, while promoting the low-carbon transition in the APAC region. ADB’s new energy policy will support our developing member countries (DMCs) in the critical and urgent task of expanding access to reliable, affordable, and clean energy.
The policy is based on five principles. The first principle covers securing energy for development by supporting electrification programs; improving energy efficiency across supply and consumption chains; and promoting social inclusion, gender equality, and partnerships. The second principle covers increasing energy efficiency, deploying more renewable and low-carbon energy, and integrating climate and disaster resilience into energy sector operations. The third principle covers supporting institutions, private sector participation, and good governance. The fourth principle covers promoting regional energy cooperation and the integration of energy systems to strengthen energy security and increase cross-border access to cleaner energy sources. The fifth principle covers combining finance, knowledge, partnerships, and country-focused approach to deliver integrated solutions with comprehensive and magnified development impacts.
Alongside ADB’s ambition to deliver USD100 billion in climate financing to our DMCs in 2019–2030, the energy policy will provide a clear path for ADB’s contribution to an environmentally sustainable energy future.