New ‘hub’ to help attract clean energy investment in Asia

A new platform aimed at attracting investment and finding new ways of bringing clean energy to Asia and the Pacific has been launched. The ‘Sustainable Energy for All Hub for […]

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By Priyanka Shrestha

A new platform aimed at attracting investment and finding new ways of bringing clean energy to Asia and the Pacific has been launched.

The ‘Sustainable Energy for All Hub for Asia Pacific’ is one of three regional hubs under the global Sustainable Energy for All Initiative set up by the UN in 2011.

It seeks to achieve universal access to modern energy services, double the rate of improvement in energy efficiency and share of renewable energy in the global energy mix by 2030.

An estimated 628 million people in the Asia-Pacific region don’t have access to electricity and more than 1.8 billion people are using traditional fuels such as wood for heating or cooking purposes.

According to the International Energy Agency (IEA), the region will need investments of more than $200 billion (£118bn) to provide full access to energy by 2030.

The hub for the Asia-Pacific region is a partnership between the Asian Development Bank (ADB) – which will manage and host the facility – the UN Economic Commission for Asia and the Pacific (UNESCAP) and the UN Development Programme (UNDP).

Bindu Lohani, ADB’s Vice President for Knowledge Management and Sustainable Development said: “We can overcome energy poverty through sustainable, low carbon energy means and through this new hub which we will host, we are gathering together investors, innovators and experts to make it this happen.”