Fossil Fuels To Eventually Become Unaffordable - ADB

2024-05-04 08:07:59

(MENAFN- Trend News Agency) TBILISI, Georgia, May 4. Fossil fuels willeventually become unaffordable in future, ADB Special Advisor onClimate Change Warren Evans told reporters on the sidelines of theADB annual meeting in Tbilisi today, Trend reports.

"New renewable energy sources, solar, wind and in particularsolar energy, are now cheaper than electricity generated fromfossil fuels. So the transition to green energy is just goodbusiness. You reduce air pollution problems and also reducegreenhouse gas emissions, but it's also safer.

Many countries that have to import fuel have better energysecurity through the transition to renewable energy sources with abundant renewable energy sources are moving towardse-mobility, which is also cheaper. They won't have to import asmuch gasoline and gasoline. So it's actually a very goodbusiness.

If you look at ADB's private sector operations that have beenundertaken over the last couple of years, a very large amount ofprivate sector investment is in green energy. So it's just based onthe track record, it's a good business," Evans said.

Will be updated

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