Focus on Energy to Achieve Paris Goals

ADB

Hironori Hamanaka believes Asia and its approach to energy will be critical to the success of the Paris Agreement on climate change.

Hironori Hamanaka believes the Paris Agreement on climate change remains a key global framework and Asian countries, particularly the People’s Republic of China [PRC] and India, will play a critical role in achieving its ambitious goals. Hamanaka, until recently Chair of the Board of Directors at the Institute for Global Environmental Strategies and previously Japan’s Vice-Minister for Global Environmental Affairs, says action on energy efficiency and investments in renewable energy will be critical.

How does the U.S. pull out affect the Paris Agreement?

The Paris Agreement remains a strong international regime because in spite of the announcement by President Trump to withdraw the United States from the agreement, so many countries both developed and developing; as well as non-state actors including regions, states, provinces, municipal governments; and so many businesses and investors express their strong commitment to implement climate actions under the Paris Agreement.

Many of them are driven by serious concerns about climate change. But also, they recognize the significant benefits that can arise from climate actions. Those benefits include not only climate or environment-related ones but, more broadly, economic and social benefits. Many businesses and investors now recognize there will be huge business opportunities to take action toward low carbon solutions.

In my view, the Paris Agreement remains a strong international framework for action.

What role will Asian countries play in managing climate change?

“I wish to encourage Asian governments to introduce a broader range of low-carbon technology solutions that focus on energy efficiency.”
Hironori Hamanaka

The role to be played by Asian countries is huge because now Asia accounts for a significant part of the global economy, and still these economies are growing. The actions being taken by Asian countries, most notably by the PRC and India, are now being accelerated. Recent estimates by Climate Action Tracker show the most recent performance by the PRC and India in terms of greenhouse gas emissions are overachieving the commitments they made under the Paris Agreement.

Their role is extremely important not only for reducing emissions within their countries but also they are beginning to show new leadership in working with other countries in Asia and maybe other parts of the world, including Africa for example.

Where should Asian countries focus efforts to reduce climate change?

I wish to encourage Asian governments to introduce a broader range of low-carbon technology solutions that focus on energy efficiency in industry, buildings, and transport. And for this to happen the creation of an enabling environment is extremely important, including the regulations for energy efficiency; and creating an economic enabling environment, including carbon pricing. This kind of thing would be very important.

Another policy that I would like to recommend is to further encourage the massive deployment of renewable energy technology. The cost of renewable energy is now decreasing dramatically and has become economically viable and now competitive with fossil fuel power generation technologies.

So these two policy initiatives would be extremely important.