It is well known that Asia’s rapid economic growth is creating a commensurate expansion in its energy needs. Also, the region’s requirement is mainly for fossil fuels, most of them imported, and the result will likely be environmental damage caused by a swamping of global carbon dioxide targets. Meanwhile, government measures to regulate domestic demand, for instance through subsidies, is perversely benefiting the rich at the expense of the poor.
Concrete but practical measures are essential to tackle Asia’s “energy challenge”, according to the Asian Development Bank ADB. It is the special theme of the ADB’s latest economic outlook released yesterday, which highlights the balance the region must...
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