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Korea Energy Agency Signs MOU with Asian Development Bank
Energy Cooperation with ADB
Korea Energy Agency Signs MOU with Asian Development Bank
  • By marie
  • February 2, 2016, 02:30
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Korea Energy Agency President Byun Jong-rip (third from left) poses for a photo with Asian Development Bank Vice President Bambang Susantono (fourth from left) on February 1.
Korea Energy Agency President Byun Jong-rip (third from left) poses for a photo with Asian Development Bank Vice President Bambang Susantono (fourth from left) on February 1.

 

Korea Energy Agency (KEA) signed a memorandum of understanding (MOU) with the Asian Development Bank (ADB) in Manila, Philippines, on February 1 to step up cooperation in the energy efficiency and climate change response sectors.

The MOU, which was proposed by the ADB, was designed to advance cooperative projects between the two organizations further, based on excellent cooperation results in the past.

According to the Paris Agreement adopted by the 21st Conference of Parties (COP21), developing countries are now also required to achieve their greenhouse gas emission reduction targets. At the moment when developing countries in Asia are expected to carry out various cooperative projects to reduce greenhouse gas emissions, the KEA plans to push forward more fruitful joint projects with developing countries in order to improve energy efficiency and climate change response, based on its experiences in various cooperation projects and advising on policy, including joint projects with developing countries, invitational workshop and seminars.

In particular, the KEA is about to complete the joint solar power panel installation project with the ADB in islands of the Philippines in March. It will also jointly host the Asia Clean Energy Forum in June to hold a workshop in the energy efficiency and new renewable energy sectors and provide an opportunity to create the network between companies seeking to enter the markets of developing countries and officials from developing countries.

Meanwhile, the KEA successfully carried out joint projects, including the industrial efficiency improvement project in Laos and the building energy efficiency improvement project in Sri Lanka, and information sharing workshops after it started cooperating in the energy and climate change corresponding sectors in 2012. Giving credit for the KEA’s expertise and system management experiences, the ADB selected the KEA as the “Center of Excellence” in the energy efficiency and new renewable energy sectors in 2014.