Xinhua. Unless emerging economies in Asia undertake radical changes in their energy policies, there will be graver environmental problems and wider disparity between the rich and the poor in the region, according to the Asian Development Bank (ADB).
In the latest report of Asian Development Outlook 2013, released on Tuesday in Hong Kong, the Manila-based ADB said that Asia could be consuming more than half of the world energy supply by 2035 and without major changes, carbon dioxide emissions will double.
“Asia must both contain rising demand and explore cleaner energy options, which will require creativity and resolve, with policymakers having to grapple with politically difficult issues like fuel subsidies and regional energy market integration,” the ADB chief economist said.
A paper, entitled Emerging Economies and the New Energy Security Agenda, released last year, also pointed out the importance of crafting a new energy security scenario that would address the effects of the rapid growth of Asian economies.
“The influence of the emerging economies on the energy markets is becoming as important as that of the developed economies. The new energy security agenda to be implemented in the coming years will have to deal with this scenario,” the study said.