World Bank set to release study on East Asia's energy needs

MANILA, Philippines - The World Bank will release this week its study on East Asia’s energy requirements in the medium to long term.

In an advisory to media, World Bank said the report, titled “Winds of Change: East Asia’s Sustainable Energy Future,” will be launched via a regional videoconference with lead author and senior energy specialist Dr. Xiaodang Wang and energy sector manager for East Asia Pacific Vijay Jagannathan.

The authors will present their findings and take questions from countries covered in the report: China, Indonesia, Philippines, Thailand, Vietnam and Malaysia. 

The report examines the energy choices of Asia’s leading economies and their expected environmental impact up to 2030.

The report was made under two scenarios: the first is based on existing plans and policies while the second shows the dramatic difference in opting for a low carbon growth path. 

Based on the World Bank report, with major investments in energy efficiency and a concerted switch to renewable sources of power, countries could simultaneously stabilize greenhouse gas emissions, increase energy security while improving local environments.

East Asia’s energy demands and choices, the report said, have a global impact.

It noted that a 10-fold increase in GDP (gross domestic product) in the last three decades has led to a tripling of energy consumption.

This growth, the study said, is expected to double again in the next two decades as the urban population increases 50 percent. 

According to the report, governments have to make the right choices now to avoid being locked in to investment decisions leading to high carbon use.

The report also dealt on the attractiveness of switching to renewable energy in the region.

The World Bank study also raised and addressed question like: Can developing nations afford the high price tag of cleaner technologies?

How can energy consumption be cut by introducing energy efficiency standards? How are, and will, China’s energy choices affect the region?

The World Bank is a vital source of financial and technical assistance to developing countries around the world. Its mission is to fight poverty with passion and professionalism for lasting results and to help people help themselves and their environment by providing resources, sharing knowledge, building capacity and forging partnerships in the public and private sectors.

It is currently made up of two unique development institutions owned by 186 member countries: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).

Formed in 1944, the World Bank is headquartered in Washington, D.C. It has more than 10,000 employees in more than 100 offices worldwide.