![]() ![]() Several countries are developing new coal-fired power plants in Asia, which accounts for 94% of the global pipeline of coal-fired power plants under construction, planned, or announced, according to the report.Įven as China, India and Indonesia accounted for a third of all emissions of planet-warming gases in 2019, six of the top 10 countries most affected by extreme weather in the first two decades of this century were in Asia, according to earlier studies. “Ambitious action on climate change with well-designed policies can have a massive payoff,” Raitzer said. He urged quick action on an energy transition for greater benefits and lower costs. The region's economic development is being fueled in a carbon-intensive way that is well above the world average, said David Raitzer, an ADB economist and one of the authors of the report. BENGALURU, India - 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. ![]()
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