ADB calls for ‘just, inclusive’ clean energy transition

This is to ensure no country is left behind in the transition.

The clean energy transition should be “just and conclusive,” Asian Development Bank (ADB) President Masatsugu Asakawa said to ensure no country is left behind.

Asakawa said the scale of energy transition required will likely create both opportunities and issues for workers and communities. This gives rise to a need to integrate the concept of just transition.

“The battle against climate change will be won or lost in Asia and the Pacific,” he said at the Science20 (S20) High Level Policy Webinar on Just Energy Transition.

“To succeed, we need to build effective knowledge on the energy transition that is grounded in scientific evidence, and we must ensure that the transition is just and inclusive.”

The ADB has been launching initiatives to have a more inclusive transition to a low-carbon future with its target to a provide a $100b in cumulative finance to developing member countries until 2030.

It also launched the Energy Transition Mechanism that sought to speed up the retirement of coal power plants, including Indonesia, and the Philippines as pilot countries.

ADB is also amongst the multilateral development banks committing to a just transition in support of developing member states looking towards net-zero economies.

Asakawa also reiterated the importance of accounting for the unique challenges faced by individual developing member countries as they transform their energy systems.

Moreover, the ADB will support planning that involves all stakeholders, establish strong institutional frameworks to address the social and economic impacts of the energy transition, and build effective knowledge that is grounded in scientific evidence.