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 […]
Europe is in danger of losing the race to become a global battery powerhouse as access to raw materials remains a major roadblock along with rising costs and fierce competition, a report by the European Court of Auditors (ECA) said on Monday. The report warned that the European Union may fail to meet climate goals […]
A submarine on a tourism expedition to explore the wreckage of the Titanic has gone missing off the coast of southeastern Canada, according to the private company that operates the vessel. OceanGate Expeditions said in a brief statement on Monday that it was “mobilizing all options” to rescue those on board the vessel. The U.S. […]
In debates about how to finance the growing bill for climate change, many worry where we can find the money. There is reason to worry. As part of the Paris Agreement, the world’s wealthier countries reaffirmed their commitment to mobilize at least $100 billion of climate financing annually to help developing countries to adapt to climate […]
Electric aircraft maker Eve and Blade Air Mobility are expanding their partnership to integrate Eve’s upcoming flying car into Blade’s European route network, starting with France, the companies said on Monday. The deal follows similar agreements between the firms, which are currently participating in the Paris Airshow, to use Eve’s electric vertical take-off and landing vehicles (eVTOLs) […]
