At the 26th Conference of the Parties (COP26) in November 2021, nearly 200 nations signed the Glasgow Climate Pact, which calls for accelerated action to keep the 1.5°C target within reach. The climate pact calls for immediate and committed action to phase down coal, stop and reverse deforestation, accelerate switching to electric vehicles, and reduce emissions. To fulfill the global climate goals, countries and corporations have committed to achieve net-zero emissions by mid-century, and nations have committed to more ambitious targets in their Nationally Determined Contributions (NDCs).
The clean energy transition is fundamental, not only to reach the net-zero targets by mid-century and deliver the NDCs, but also to attaining the Sustainable Development Goals (SDGs). An inclusive transition can unlock multi-sectoral benefits of clean energy— supporting growing economies and creating high value jobs, reinforcing climate mitigation and adaptation efforts, and extending access to more than 770 million people without electricity globally, among others. A clean energy transition empowers people and communities, making a low-carbon and resilient future a reality.
However, each country must first overcome distinct economic and development challenges in order to fast-track its transition. These challenges are often intensified by climate impacts, and other unforeseeable occurrences, such as the coronavirus pandemic. Adjustment of traditional energy structures, both infrastructure and institutional systems, would be necessary to adopt innovative solutions and make way for the desired energy transition to happen. Aligning financing flows with the Paris Agreement and ensuring that these are channeled directly to country-driven climate and energy transition actions will deliver results.
ACEF 2022 gathered the Asia clean energy community once again—for the 17th time since its inception in 2006—to share and explore both proven and new ideas to accelerate the low-carbon energy transition in Asia and the Pacific. The discussions and agreements reached at ACEF 2022 helped operationalize ADB’s 2021 Energy Policy, which aims to promote a low-carbon transition in the region while supporting universal access to reliable and affordable energy services. It is in line with ADB’s Strategy 2030 of creating a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while eradicating extreme poverty.
Like the past two years, ACEF 2022 was conducted virtually during 14 – 17 June 2022, with two, 90-minute sessions during the day, and partner-hosted Side Events in the evenings.
Subscribe to our newsletter for more updates on the next ACEF.