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Asia must rapidly cut fossil fuel subsidies and plow more money into a clean energy transition to avoid catastrophic climate change that puts its own development at risk, according to a new report from the Asian Development Bank. The region's economic development is being fueled in a carbon-intensive way that…
“What our report would be urging is that coal expansion, we don’t find that as economically preferable because of the declining cost of other energy sources. So investing in new coal capacity is not in the interest of any region in our model."
Asia must rapidly cut fossil fuel subsidies and plow more money into a clean energy transition to avoid catastrophic climate change that puts its own development at risk, according to a new report on Thursday, April 27, 2023, from the Asian Development Bank.
Asia must rapidly cut fossil fuel subsidies and plow more money into a clean energy transition to avoid catastrophic climate change that puts its own development at risk, according to a new report Thursday from the Asian Development Bank. The region’s economic development is being fueled in a carbon-intensive way that is well above the…
Asia must rapidly cut fossil fuel subsidies and plow more money into a clean energy transition to avoid catastrophic climate change that puts its own development at risk. That's according to a new report Thursday from the Asian Development Bank. The report notes that Asia accounts for 94% of coal-fired power plants under construction, planned, or announced. It recommends reducing subsidies for fossil fuels, putting a price on greenhouse gas emissions and providing more policy incentives for clean energy. The report says doing so would yield social and economic benefits equivalent to five ...