ISLAMABAD
\nThe Asian Development Bank (ADB) has confirmed Pakistan\u2019s inclusion into its first-ever Energy Transition Mechanism aimed to support energy mix conversion over clean renewable solutions.
\nSpecial Assistant to the PM on Climate Change Malik Amin Aslam tweeted this on Thursday, thanking ADB President Masatsugu Asakawa for confirming Pakistan\u2019s inclusion into the mechanism and also shared the confirmation letter.
\nHe also thanked the ADB president for a follow-up meeting at the UN Climate Change Conference in Glasgow and approval of grant funds to execute the pre-feasibility of the early shutdown of fossil fuel-based power plants in the country.
\nAslam said that initially a pre-feasibility study would be carried out in the selected countries to assess their energy mix and propositions for viable transition from existing fossil fuels to clean energy with least impact on the economy of the proposed country. According to the SAPM, it is one of the major achievements of the country at COP26 where it managed to get global funding for its ecosystem restoration and climate change mitigation measures.
\nThe ADB president in his letter to Aslam said, \u201cThank you for joining us at the Energy Transition Mechanism for Southeast Asia: Partnership Launch at COP26, Glasgow, UK. I thank you for your strong support provided at COP26 for the launch of the Energy Transition Mechanism (ETM) on 3 November 2021 and for the substantial points you made during the panel discussion.\u201d
\nHe underscored that as already known that the battle against climate change would be won or lost in Asia and the Pacific. \u201cETM will be a win for the climate, a win for local communities, and a win for developing economies,\u201d he mentioned.
\nHe said the study will commence in January 2022. \u201cFurther, it is anticipated that, by March 2022, we will have the first set of key outputs for Indonesia and Philippines on technical, financial, and legal feasibility and be in a position to determine next steps, including the launch of a request for proposal process to solicit proposals from general partners\/ fund managers,\u201d he concluded. <\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD The Asian Development Bank (ADB) has confirmed Pakistan\u2019s inclusion into its first-ever Energy Transition Mechanism aimed to support energy mix conversion over clean renewable solutions. Special Assistant to the PM on Climate Change Malik Amin Aslam tweeted this on Thursday, thanking ADB President Masatsugu Asakawa for confirming Pakistan\u2019s inclusion into the mechanism and also […]<\/p>\n","protected":false},"author":2,"featured_media":230740,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[997,211,551,20],"class_list":{"0":"post-230731","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-adb","9":"tag-energy","10":"tag-malik-amin-aslam","11":"tag-pakistan"},"yoast_head":"\n