The threat of climate change presents an opportunity for East Asian countries to renew development strategies for making their economies energy efficient and diversifying their energy portfolio, Asian Development Bank (ADB) President Haruhiko Kuroda said here Wednesday.
Although climate challenge is daunting, it is an opportunity for the East Asia region to adapt to new patterns of development, said Kuroda in his speech during the East Asia Summit (EAS) held here on Wednesday.
"Through partnership, we can promote policies and technologies that advance energy efficiency, boost renewable energy, and adapt to make the region's future brighter, and more resilient," he said.
Kuroda stressed the need for regional cooperation, suggesting some ideas for regional leaders to consider, including new incentive mechanisms specifically focused on energy security and jointly developing high energy efficiency and renewable energy technologies.
The ADB president told regional leaders it is essential to look for ways to make fossil-fuel use as efficient and as clean as possible while also pursuing low-carbon alternatives.
Kuroda said water is another issue closely tied to climate change, but with concerns of its own. "Without water, no community or nation can flourish," he said.
The 3rd East Asia Summit was held here on Wednesday, with the climate change, energy and environment issues topping the agenda.
ADB, based in Manila, is dedicated to reducing poverty in the Asia and Pacific region through pro-poor sustainable economic growth, social development, and good governance. Established in 1966, it is owned by 67 members - 48 from the region.