Workshop on Meeting Environmental Objectives: Role of Energy Pricing Reforms
The CAREC Institute and the Asian Development Bank Institute (ADBI) delivered an online workshop on “Meeting Environmental Objectives through Energy Sector Reforms in Asia and the Pacific: Role of Energy Pricing Reforms and Emissions Reduction,” targeting senior government officials and leading experts from across Asian sub-regions, including CAREC. The virtual workshop was organized around six webinar sessions from 22 to 24 June 2020. The workshop aimed to analyze energy pricing reforms and their short- and long-term costs and benefits.
Energy prices are usually controlled or subsidized in developing Asian economies to reduce energy costs to low-income consumers and firms. However, the growing need to reduce greenhouse gas (GHG) emissions to address climate change impacts is prompting calls by international organizations for energy pricing reforms which have emerged as one of the regions’ most important policy challenges and opportunities given their potential to advance climate change mitigation and green growth. These reforms could help reduce government expenditure on energy subsidies, which in developing Asia and the Pacific can range between 2-4% of GDP. They could also promote investment in renewable energy and energy efficiency improvements, reducing GHG.
During the workshop, leading energy experts and senior government officials engaged in policy dialogue to explore innovative reform schemes in reducing government expenditure on energy subsidies while sharing knowledge and best practices. They also discussed feasible policy options for investment in renewable energy and energy efficiency improvements. This webinar featured research on the short and long-term costs and benefits of energy pricing reforms for developing Asian and Pacific economies, including liberalization, privatization, and enhanced competition related to energy generation, transmission, and distribution. It also explored how regional lessons learned can guide the implementation of energy reforms and realization of environmental objectives.
Workshop materials are accessible here: https://www.adb.org/news/events/environmental-objectives-role-energy-pricing-reforms-emissions-reduction.