S1E101: Banking on change - unlocking Asia’s green transition

Jun 18, 2023

21:49

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The Asian Development Bank is trying to bring green power to the people while curbing climate risks. It’s a huge challenge.

Synopsis: Every first and third Monday of the month, The Straits Times analyses the beat of the changing environment, from biodiversity conservation to climate change.

Asia is the economic engine of the world. This powerhouse region is growing quickly and so are its energy demands.

Millions of people still do not have access to electricity or clean cooking stoves. And its growing economies need affordable and reliable energy to power the region’s burgeoning industries.

But Asia is also the world’s top source of greenhouse gas emissions heating up the planet. And these emissions, mainly from burning fossil fuels, are driving more severe flooding, droughts, fires and higher seas that are taking a huge toll on the region.

So how to bring power to the people without cooking the region and the planet?

In this episode, ST's climate editor David Fogarty speaks with Dr Priyantha Wijayatunga, chief of the energy sector group at the Asian Development Bank, who is leading the ADB’s efforts to fund the region’s multi-trillion dollar energy transition.

Highlights of conversation (click/tap above):

1:22 What is the climate and energy challenge in Asia?

5:59 Is it possible to meet the region’s energy needs while reducing the climate risks?

13:25 Are you the man in the hot seat driving the region’s green transition for the bank?

14:47 For SE Asia, what’s the current trend for green energy investment?

16:31 What is the ADB’s US$100 billion climate fund and how is it working?

Produced by: David Fogarty (dfogarty@sph.com.sg), Ernest Luis & Hadyu Rahim

Edited by: Hadyu Rahim

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