Clean Energy Investments the Ideal Route for COVID-19 Recovery in APAC: ADB

More and consistent investments in clean energy infrastructure will contribute to APAC’s recovery from COVID-19 and make economies more resilient

More and consistent investments in clean energy infrastructure will contribute to Asia and the Pacific’s (APAC’s) recovery from the coronavirus disease (COVID-19) pandemic and make economies more resilient against similar future shocks, participants at the ongoing 15th Asia Clean Energy Forum (ACEF) 2020 held recently.

Co-hosted by the Asian Development Bank (ADB), the United States Agency for International Development, and the Korea Energy Agency, ACEF takes place from 15–19 June welcoming more than 4,000 delegates to the online-only event, including policymakers, energy specialists, private sector participants, and members of civil society organizations from around the world. On its 15th anniversary, ACEF is being held as a virtual, livestreamed-only event in response to the COVID-19 pandemic and to ensure energy efficiency. 

“It is clear that the COVID-19 crisis has made tackling climate change and other development issues an even bigger challenge,” said Asian Development Bank (ADB) President Masatsugu Asakawa.

“However, the situation offers opportunities and we must now seize the chance to rebuild smartly. As the region’s leading clean energy event, ACEF is the ideal forum to discuss these opportunities and ensure that clean energy plays a core role in helping Asia and the Pacific emerge stronger than before.”

ADB said ACEF 2020 with the theme ‘Vision 20/20: Cross-sectoral Innovations for a Sustainable Future’, explores the road map for achieving countries’ energy-related nationally determined contributions under the Paris Agreement. It also discusses innovations at the nexus of energy, transport, and urban development; and building energy sector resilient, particularly in fragile and small island countries.

In his keynote address, International Energy Agency (IEA) Executive Director Fatih Birol stressed the importance of addressing climate change and air pollution in the recovery.

A panel discussion, including Sri Lanka’s Permanent Secretary of Ministry of Power & Energy Wasantha Perera and International Solar Alliance (ISA) Director General Upendra Tripathy, explored the prospects for development finance and capacity building in the region.

This year’s forum will also launch a new innovation challenge: Digitising Waste Collection through Handling, Tracking, and Recycling to Disposal. Proposals are invited for digital solutions to improve waste management, reduce the amount of material sent to landfills, and increase sustainability in order to create more resilient communities.