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🌟 Press Release: Y4E-SEA on Asia Clean Energy Forum (ACEF) 2024 🌟

Manila, June 3, 2024 - The Asian Development Bank (ADB), along with co-organizers the United States Agency for International Development (USAID) and the Korea Energy Agency (KEA), was held the 19th edition of the Asia Clean Energy Forum (ACEF) 2024 in Manila from June 3 to 7, 2024. The theme for ACEF 2024 was “Accelerating the Clean Energy Transition and Ensuring Energy Security and Affordability – Time for Urgent Action Now.” ACEF 2024 seeks to provide practical insights, enhance awareness, and foster collaboration on funding clean and efficient energy solutions. It will engage a diverse group of clean energy professionals from Asia and the Pacific. The event is supported by Sustainable Energy for All (SEforAll), Mission Efficiency, and CLASP.

Ms. Bernadette Anne N. Buensuceso, Youth for Energy Southeast Asia (Y4E-SEA)'s Director of Outreach and Collaboration attended the Pre-Forum Event of ACEF 2024 entitled From Pledge to Action: Energy Efficiency in the Asia Pacific (Roundtable). The roundtable discussed COP28’s global stocktake and the Global Renewables & Energy Efficiency Pledge urging countries to collaborate in doubling the global average annual rate of energy efficiency improvements by 2030, necessitating stronger policies, de-risked finance, and widespread adoption of efficient technologies. Achieving this target requires tripling investments in energy efficiency to over USD 1.8 trillion by 2030.

Despite the availability of necessary policies and technologies, the challenge is transforming the COP28 Pledge into actionable steps through effective collaboration to maximize limited resources. The Asia Pacific region, with its large population, growing demand for cooling, and rising living standards, plays a crucial role in global energy efficiency, given its significant increase in energy intensity and potential for greater efficiency. Additionally, urban migration in the region presents opportunities for developing efficient infrastructure. During dynamic discussions, participants will assess readiness, identify regional strengths, and create a concrete action roadmap leveraging partnerships to achieve energy efficiency targets.

Ms. Bernadette in her opening statement emphasized the dual challenge of meeting growing energy demands while ensuring sustainable growth. ASEAN notes that youth, comprising about one-third of the region's population and projected to exceed 220 million by 2038, are crucial in shaping the future. ASEAN Youth Organization Research Center survey revealed that 70% of ASEAN youth see regional cooperation as key to advancing clean energy, 87% are concerned about pollution, and 92% are committed to sustainable lifestyles. These findings underscore the need to involve youth in energy policy. The call is for governments, industries, and stakeholders to collaborate, address barriers, and invest in education and infrastructure to support a sustainable future.

The ACEF Roundtable highlighted the importance of a hydrogen economy and energy aggregation in replacing non-energy efficient items. It emphasized that energy access is as crucial as energy efficiency, noting the difficulty of promoting efficiency in developing countries where access is limited. ADB is committed to climate financing, but businesses struggle to leverage this financing when their products do not meet market expectations. High demand can compromise energy efficiency, making it essential for governments to provide incentives. The discussion referenced COP28's goal of doubling energy efficiency and questioned its feasibility. Overall, partnerships were deemed key to advancing energy efficiency through shared learning.

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