ADB PRESIDENT URGES ASIAN NATIONS TO GIVE
INCENTIVES FOR LOW CARBON TECHNOLOGIES
NEW DELHI, October 16, 2007. Mr. Haruhiko Kuroda, President, Asian Development
Bank, has underlined the need for policy makers in Asia to create the right incentives for
development and use of low-carbon technologies, address market failures and barriers and attract
financing.
Addressing an Interactive Meeting on Technology and Finance for Clean Development under the
aegis of the Asia Pacific Partnership (APP) on Clean Development and Climate, on Monday
evening, Mr. Kuroda, said it was important to put a cost on the external impacts of carbon
emitting activities, and to develop innovative mechanisms to finance the additional cost of new
technologies.
The ADB President said effective mechanisms for cooperation, technology transfer and
knowledge sharing would be needed and as APP has demonstrated, private-public sector
partnership would play a crucial role.
Mr. Kuroda said ADB’s commitment to supporting Asia’s transition to a low carbon economy
would be demonstrated in an updated energy strategy to be finalised soon.
Mr. James L Connaughton, Chairman for Council on Environmental Quality of the White
House, said, that as per the estimates of the International Energy Agency, between 2005 and
2030, US$ 20 trillion will be spent in energy-supply infrastructure, much of which will be
invested in the APP countries. Almost 85% of this investment would have to come from the
private sector. There was thus a dire need to harness the projected investment to advance clean
and sustainable energy as the demand for energy is expected to rise by 50% in the coming
decades.
Ms. Meena Gupta, Secretary, Evironment and Forests said: “We need to look at the issue
of financing of technology as well as providing resources for R&D into critical and
affordable technologies. In this connection, we need to explore innovative means of financing
while ensuring that current channels of financing are not diverted.”
Mr J N Godrej, Past President, CII Chairman CII Mission for Sustainable growth &
Climate Change pointed out: “Action on climate change will create significant business
opportunities. New markets in low-carbon and low energy technologies will be created.
These could potentially grow to billions of dollars worth and provide employment to
thousands.”
Mr. Y K Modi, Past President, FICCI proposed a vote of thanks.
The meeting was also addressed by Dr. Proditpto Ghosh, Chairman, FICCI Climate Chanage
Task Force and Member, Prime Minister’s Council on Climate Change; Mr. Nobuo Tanaka,
Executive Director, International Energy Agency; and Mr. Prem C Jain, Chairman, Indian
Green Building Council, CII.
MEDIA DIVISION