Sustainable Energy

Shaping a Sustainable Energy Future in Asia and the Pacific

Sustainable Development Goal 7 on energy (SDG 7) outlines clear targets for universal access, increasing renewable energy and improving energy efficiency, while Nationally Determined Contributions under the Paris Agreement provides a basis for limiting greenhouse gas emissions. However, while many countries have made considerable progress towards these goals, the Asia-Pacific region is not on track to meet SDG 7 or the Paris Agreement goal of limiting global warming to two degrees. 

Global Trends in Renewable Energy Investment 2020

Governments and companies around the world have committed to adding some 826 gigawatts of new non-hydro renewable power capacity in the decade to 2030, at a likely cost of around $1 trillion. Those commitments fall far short of what would be needed to limit world temperature increases to less than 2 degrees Celsius. They also look modest compared to the $2.7 trillion invested during the 2010-2019 decade, as recorded by this Global Trends report.

ADB Green Bonds

Climate change, ocean pollution, and disasters from natural hazards have also placed a heavy burden, especially on the poor and vulnerable. Further, these challenges are magnified by the coronavirus disease (COVID-19) pandemic that has become a global emergency in 2020, requiring forceful action at the national, regional, and international levels. Although it remains uncertain when the COVID-19 pandemic will end, economic and social impacts on the region will be significant.