• News
    • Latest news
    • News search
    • Health
    • Finance
    • Food
    • Career news
    • Content series
    • Try Devex Pro
  • Jobs
    • Job search
    • Post a job
    • Employer search
    • CV Writing
    • Upcoming career events
    • Try Career Account
  • Funding
    • Funding search
    • Funding news
  • Talent
    • Candidate search
    • Devex Talent Solutions
  • Events
    • Upcoming and past events
    • Partner on an event
  • Post a job
  • About
      • About us
      • Membership
      • Newsletters
      • Advertising partnerships
      • Devex Talent Solutions
      • Contact us
Join DevexSign in
Join DevexSign in

News

  • Latest news
  • News search
  • Health
  • Finance
  • Food
  • Career news
  • Content series
  • Try Devex Pro

Jobs

  • Job search
  • Post a job
  • Employer search
  • CV Writing
  • Upcoming career events
  • Try Career Account

Funding

  • Funding search
  • Funding news

Talent

  • Candidate search
  • Devex Talent Solutions

Events

  • Upcoming and past events
  • Partner on an event
Post a job

About

  • About us
  • Membership
  • Newsletters
  • Advertising partnerships
  • Devex Talent Solutions
  • Contact us
  • My Devex
  • Update my profile % complete
  • Account & privacy settings
  • My saved jobs
  • Manage newsletters
  • Support
  • Sign out
Latest newsNews searchHealthFinanceFoodCareer newsContent seriesTry Devex Pro
    • News
    • In Numbers

    ADB clean energy investments on the rise

    The Asian Development Bank’s growing clean energy investments are expected to address Asia’s disturbing levels of carbon emissions, which could reach 21 billion tons, or nearly half of the world’s output, by 2035.

    By Juan Carlos Concepcion // 24 June 2013
    Click here to view the image in large size.

    After more than half a decade of sporadic spending, the Asian Development Bank steadily increased its clean energy investments over the past four years. While experiencing inconsistent growth between 2003 and 2008, the bank’s clean energy budget increased from $1.31 billion in 2009 to $2.36 billion in 2012. In 2008, ADB set an annual target of $2 billion in clean energy investments by 2013, which it met two years ahead of schedule.

    The upsurge in spending is largely attributed to the bank’s Clean Energy Program, which aims to support renewable energy in smaller developing member countries and facilitate the adoption of low-carbon technologies in Asia. Some of the program initiatives are: 

    • Energy for All Initiative — maximizes access to clean, affordable, modern energy for all, especially the rural poor.

    • Asia Solar Energy Initiative — identifies, develops and implements 3,000 megawatts of solar electricity generation by 2013.

    • Quantum Leap in Wind — develops country-specific road maps for the large-scale deployment of wind power, leading to an additional 1 gigawatt of installed wind energy capacity by 2015.

    • Small Wind Initiative — explores effective ways to utilize indigenous renewable energy resources to improve the living standards of poor communities in remote areas.

    • Low Carbon Technology Exchange — identifies partnerships between willing buyers and sellers of low-carbon technologies to facilitate transfer and diffusion in Asia and the Pacific.

    • Asia Climate Change and Clean Energy Venture Capital Initiative — supports equity investments in several venture capital funds that accelerate private sector-based innovation, transfer and diffusion of climate change technologies.

    ADB’s growing clean energy investments are expected to address Asia’s disturbing levels of carbon emissions, which could reach 21 billion tons, or nearly half of the world’s output, by 2035. According to the 2013 Asian Development Outlook, the region will face an “environmental disaster” if it continues to rely heavily on traditional energy sources.

    While Asia’s energy and climate challenges are significant, analysts see that the region is already addressing future climate-related concerns. It is currently the world’s leading clean energy investor. Based on a joint-report by the Frankfurt School of Financial Management and the U.N. Environment Program, Asian countries contributed 42 percent to the $244 billion total global renewable energy investment in 2012.

    In support of Asia’s continuing transition to clean energy and the development of effective energy solutions, ADB and the U.S. Agency for International Development will hold the 8th Asia Clean Energy Forum on June 25-28, 2013, at the bank’s headquarters in Manila. Representatives of governments, energy companies, the academe and civil society will gather to share best practices in clean energy policy, technology and finance.

    Join the Devex community and gain access to more in-depth analysis, breaking news and business advice — and a host of other services — on international development, humanitarian aid and global health.

    • Energy
    • Environment & Natural Resources
    • Banking & Finance
    Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).

    About the author

    • Juan Carlos Concepcion

      Juan Carlos Concepcion

      Juan Carlos is a former analyst at the Devex Manila Office. A strong advocate of civic education, he also teaches undergraduate courses on Philippine politics and governance.

    Search for articles

    Related Jobs

    • Individual Consultant: Support and Monitoring for the Quality Implementation Americas Team for Supply Chain Certification
      Central Africa | Eastern Africa | Latin America and Caribbean | Southern Africa | West Africa
    • Legal Counsel - Blended Finance (Hybrid)
      Netherlands | Western Europe
    • Senior Programme Officer - Climate Peace and Security (Fixed-term)
      Addis Ababa, Ethiopia | Nairobi, Kenya | Ethiopia | Kenya | Eastern Africa
    • See more

    Most Read

    • 1
      Opinion: Mobile credit, savings, and insurance can drive financial health
    • 2
      FCDO's top development contractors in 2024/25
    • 3
      Strengthening health systems by measuring what really matters
    • 4
      Opinion: India’s bold leadership in turning the tide for TB
    • 5
      Reigniting momentum for maternal, newborn, and child health

    Trending

    Financing for Development Conference

    The Trump Effect

    Newsletters

    Related Stories

    World Bank Spring MeetingsIs this the moment for nuclear energy at the World Bank?

    Is this the moment for nuclear energy at the World Bank?

    Energy Opinion: Clean energy success demands country-specific solutions

    Opinion: Clean energy success demands country-specific solutions

    Food SystemsHow ADB plans to invest $40B in food systems by 2030

    How ADB plans to invest $40B in food systems by 2030

    Devex InvestedDevex Invested: What we’re watching at Financing for Development in Seville

    Devex Invested: What we’re watching at Financing for Development in Seville

    • News
    • Jobs
    • Funding
    • Talent
    • Events

    Devex is the media platform for the global development community.

    A social enterprise, we connect and inform over 1.3 million development, health, humanitarian, and sustainability professionals through news, business intelligence, and funding & career opportunities so you can do more good for more people. We invite you to join us.

    • About us
    • Membership
    • Newsletters
    • Advertising partnerships
    • Devex Talent Solutions
    • Post a job
    • Careers at Devex
    • Contact us
    © Copyright 2000 - 2025 Devex|User Agreement|Privacy Statement