Page 12 - AsiaElec Week 13 2021

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the end of next year after the delivery of the help adapt to the adverse impacts of climate resilience programme to scale up the quantity
ferries, which are currently being constructed. change. and quality of climate adaptation finance in
The ferries will receive nearly 50t of LNG “We can no longer take a business-as- support of local climate adaptation actions.
fuel per day through the truck-to-ship method usual approach to climate change. We need ADB is committed to achieving a
at Beppu Port in Oita Prefecture, Japan. to put ambitious climate actions at the center prosperous, inclusive, resilient, and
They will be fuelled simultaneously of development,” Mr. Asakawa said. “ADB sustainable Asia and the Pacific, while
through pipes called ‘skid’, which will be is committed to supporting its developing sustaining its efforts to eradicate extreme
connected to four tank trucks, thereby member countries through finance, poverty. Established in 1966, it is owned by 68
speeding up the fuel supply process. knowledge, and collaboration with other members—49 from the region.
The tank trucks will be supplied with LNG development partners, as they scale up climate ADB
fuel at the loading station of Oita Liquefied actions and push for an ambitious outcome at
Natural Gas Company, a Kyuden Group COP 26 and beyond.”
company. ADB is using a three-pronged strategy to POLICY
Niyac Corporation will carry and supply expand access to finance for its developing
LNG to the ferryboats, and Oita Gas will members as they step up their response to the India, United States to
monitor safety during LNG bunkering. impacts of climate change.
The fuel will be sold by Kyuden to Ferry First, ADB has an ambitious corporate revamp energy ties; to
Sunflower via another MOL Group company, target to ensure 75% of the total number of
MOL Techno-Trade. its committed operations support climate focus on cleaner energy
change mitigation and adaptation by the
end of the decade, with climate finance sectors
from ADB’s own resources to reach $80bn
FINANCE cumulatively between 2019 and 2030. ADB India and the United States have agreed to
has also adopted explicit climate targets revamp their strategic energy partnership
ADB says access to climate under its Asian Development Fund (ADF), with a greater focus on cleaner energy sectors,
which provides grant financing to its poorest
an official statement said. Oil Minister
finance is critical members. ADF 13, which covers the period Dharmendra Pradhan on Monday held an
of 2021–2024, will support climate mitigation
“introductory meeting” with US Secretary of
he Asian Development Bank (ADB) called and adaption in 35% of its operations by Energy Jennifer Granholm.
access to climate finance a key priority for volume and 65% of its total number of The two leaders reviewed the India-US
Asia and the Pacific as governments design projects by 2024. Strategic Energy Cooperation (SEP).
and implement a green and resilient recovery Second, ADB is enhancing support for The two nations will intensify efforts to
from the coronavirus disease (COVID-19) adaptation and resilience that goes beyond take advantage of advanced US technologies
pandemic. climate proofing physical infrastructure to and India’s rapidly growing energy market, the
Speaking at the United Kingdom Climate promote strong integration of ecological, statement said.
and Development Ministerial—one of the social, institutional, and financial aspects of “Both leaders agreed to revamp the India-
premier events leading up to the United resilience into ADB’s investments. US SEP to reflect the new priorities of Prime
Nations Climate Change Conference (COP Third, ADB is increasing its focus on Minister Narendra Modi and President Joe
26) in November—ADB President Masatsugu supporting the poorest and most vulnerable Biden with focus on promoting clean energy
Asakawa said expanding access to finance is communities in its developing member with low-carbon pathways and accelerating
critical if developing economies in Asia and countries by working with the United green energy cooperation,” it said.
the Pacific are to meet their Paris Agreement Kingdom, the Nordic Development Fund, They agreed to prioritise greater
goals to reduce greenhouse gas emissions and and the Green Climate Fund on a community collaboration in the cleaner energy sectors of

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