USAID RDM/A Regional Environment Office Weekly Report Week Ending June 6, 2008

Asia Clean Energy Forum: Investing in Solutions that Address Climate Change and Energy Security. More than 500 energy experts, entrepreneurs, and government officials from 41 countries met in Manila, Philippines on June 3-5, 2008, amidst urgent calls to scale up investments in clean energy technologies through new policy incentives and innovative financing. Experts estimate that Asia needs up to $6.4 trillion in new energy infrastructure by 2030.  Unless countries invest in technologies to lessen their dependence on oil and coal, they will continue to be vulnerable to price hikes in these commodities and will further contribute to climate change. Participants explored a wide range of topics during 25 sessions on financing clean energy projects, removing regulatory barriers to investment, accessing clean energy funds, and technological innovations. The event featured innovative initiatives promoting small- and large-scale clean energy projects and financing, and attracted extensive international and business media coverage. The Asian Development Bank and USAID’s ECO-Asia Clean Development and Climate Program organized the Forum. Co-sponsors included the Asia Pacific Partnership on Clean Development and Climate (APP), Asia-Pacific Economic Cooperation (APEC), Cities Development Initiative for Asia, and the Governments of Australia, Japan, Norway, and Spain.