As stated on the project disclosure page, the ADB is collaborating with regional and international partners to support, study, and pilot the ETM, which aims to catalyze public and private capital to accelerate the transition to clean energy in ADB DMCs. Fossil fuel is a primary electricity source of ADB Pacific DMCs. The proposed KSTA will support the preparation of an Accelerated Energy Transition (AET) for them. The AET will aim to mitigate the negative impact of systemic, external market risks, while supporting regional priorities in achieving energy efficiency and renewable energy targets and strengthening economic resilience and sustainability. The AET will apply differentiated approaches, depending on the situation. Development of the AET will be informed and guided by (i) regional- and country-level research and policy dialogue; (ii) facilitation of a regional senior officials' platform to promote continued strong country ownership and support for the AET; and (iii) capacity development to strengthen knowledge and share experience in a range of potential mitigation measures. The AET process will develop a structure to integrate the benefits of addressing systemic and external risks through market solutions with increased country commitment to energy efficiency and renewable energy targets. The AET's country design and implementation are consistent with Pacific DMCs' energy plans and national goals under the Paris Agreement.
ADB Team Leaders:
Rafayil Abbasov - Senior Energy Specialist
Rosalind McKenzie - Principal Operations Coordination Specialist (Fragile Situations), Fragility and Engagement Division, Climate Change and Sustainable Development Department
No contacts provided at the time of disclosure.
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