Renewable energy

Just last month, Exxon predicted that oil will still be the top energy source in 2040. Views like this fail to recognize that the case for full conversion to renewables is more compelling—and feasible—than ever, and countries, including in Asia, are creating investment opportunities that could total $100 trillion by 2050. Oil prices are tumbling, 2015 was a record year for investment in renewables, and in December, 195 countries adopted the COP21 climate agreement, all indicating the writing is on the wall for the fossil fuel industry.

A number of countries committed to 100% renewable electricity generation or 100% renewable primary energy targets in their Intended Nationally Determined Contributions (INDCs) under COP21. Nearly 100 cities around the world have also taken steps to decarbonize.But the INDCs submitted so far will only limit temperatures to a 2.7°C global increase, not the 2°C—or if possible 1.5°C—required. Thankfully, INDCs can be increased over time... — blog.adb.org/blogs