The Asian Development Bank (ADB) is set to boost end-user energy efficiency investment in Asia and the Pacific, a move that will help meet the increasing power demand and reduce greenhouse gas emissions.
This new investment may include energy-efficient public building upgrades, street lighting improvements, and upgrades of electricity metering devices in the region.
Commenting on the initiative, ADB Knowledge Management and Sustainable Development vice president Bindu N. Lohani said that energy can be saved by making buildings, vehicles, machinery, and water pumps more energy efficient.
"We want to promote demand-side energy efficiency through public and private sector partnership, with ADB taking a lead role in providing customized policy advisory services, technical assistance, and innovative financing support in developing member countries," added Lohani.
The need for the construction of power plants and imported fuel bills will reduce, by the efficient use of energy.
In 2012, ADB invested around $970m in energy efficiency projects, with the majority of projects focused on demand-side energy efficiency, including households and manufacturing plants.