Global energy demand rose 1% last year and record renewables growth did nothing to shift the dominance of fossil fuels, which still accounted for 82% of supply, the industry’s Statistical Review of World Energy report said on Monday. Last year was marked by turmoil in the energy markets after Russia’s invasion of Ukraine, which helped […]
Hydrocarbons will be an important part of Asia’s energy mix, Malaysian Prime Minister Anwar Ibrahim and industry executives said on Monday, as affordability and energy security remain key concerns for the region. Achieving net-zero emissions targets should not come “at the expense of economic growth or vice versa”, Anwar said at the inaugural Energy Asia […]
A smooth energy transition promotes sustainable development and climate resilience but it requires efforts on multiple fronts. Developing countries in Asia and the Pacific are facing greater challenges in transforming their energy systems from fossil fuels to renewables in response to climate concerns. Political and economic concerns, along with the impact of the pandemic, have […]
DUBAI, June 21 (Reuters) – Heavy clashes broke out between rival military factions in several parts of Sudan’s capital on Wednesday as a 72-hour ceasefire that saw several reports of violations expired, witnesses said. Shortly before the truce ended at 6 a.m. (0400 GMT) fighting was reported in all three of the cities that make […]
The Russian invasion of Ukraine has increased global oil market volatility. The economic impact of another oil price shock, should it materialize, would be significant. At the beginning of Russia’s invasion of Ukraine, the crude oil price breached $130 per barrel in March 2022, the highest since 2008. Since then, it retreated to about $100 […]
ADB Principal Energy Specialist Kelly Hewitt answers questions about why energy costs are so high and what consumers and governments can do to bring them down. Global energy prices increased by more than 26% in the early months of 2022. This has implications that spread across the economies of Asia and the Pacific, with electricity […]
Retail bonds provide stability, attract individual investors, and support financial literacy in Asia’s growing bond market. Retail bonds are neither new nor terribly exciting financial instruments. However, they are proving powerful conduits for financial stability and increasingly feature as funding sources for Asian finance officials. Retail bonds are investment products offered directly to the general […]
Countries can narrow economic and social inequalities, and deliver on long-term commitments to sexual and reproductive health and rights, by prioritizing universal health care. Giving birth can lead to a significant financial burden for parents. For some, the costs of prohibitively expensive care can lead to life-and-death decisions, such as delaying regular prenatal visits or […]
A key challenge is to transition from fossil fuels to next-generation clean energy without making consumers pay more. Multiple trends are driving the transformation of global energy systems. One of them is electricity networks, including “the digitization of everything and the electrification of everything,” decentralization, decarbonization, and deregulation. Accelerated deployment and the rapidly falling cost […]
The move to clean energy and carbon neutrality in the People’s Republic of China will require conservation, conversion to new energy sources beyond coal and changing people’s energy consumption habits. The People’s Republic of China is working to peak its carbon dioxide emissions before 2030 and achieve carbon neutrality by 2060. The only way to […]
