Considering the need of clean energy to save the environment, Japan has endeavored to invest US$ 100 million in Asia’s clean-energy projects.
On May 6, 2007 Japan has vowed to invest US$100 million to sustain clean energy development in Asia considering the increasing greenhouse emissions due to fast economic growth. Besides, Japan will proffer loans worth $2 billion for 5 years to encourage continued progress and ways to combat climatic changes. Finance Minister Koji Omi told the Asian Development Bank's annual meeting, "With Asia's role in the world economy growing, CO2 (carbon dioxide) emissions from Asia are having an increasing environmental impact," in news published on The China post
The money granted is a part of initiatives undertaken by the government in Tokyo to sustain development as fast economic growth of Asia is impacting environment in negative manner.
Asia's energy utilization has increased by 230 percent in the last three decades of volatile industrialization and is projected to grow further. Presently, It utilizes one quarter of world's total energy supply as against 13 percent a decade back. Current scenario of Asia’s energy supply is that it is heavily dependent on fossil fuels with coal meeting 41 percent of total energy requirement. Coal, as per scientists, propels global warming by trapping heat and emits large amount of carbon in atmosphere. Reduction in carbon emission is necessary for continuous development of region.
Moreover with the hike in oil prices likely to prolong in future, renewable energy sources are becoming viable with better economic achievability. Yet, majority of renewable energy sources are expensive to conquer, excluding hydro, wind, biomass that are conventional sources of energy. By the way, improvement of economic indices is under deliberation, which can be imparted as decisive factor in priority management and exploitation of renewable energy sources.
As per a research analyst at RNCOS, “Truthfully, the stipulation for energy is escalating extremely in Asian countries and that is the reason, exactly, for the requirement is there to aspire for and encourage sustainable sources of energy, in spite of relying on fossil fuels. The option of sustaining enormous intensification of renewable energy, resolve not only climatic problems, but, in addition, enhance energy safekeeping for the countries concerned”.
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