Asia Heads for Financial Energy Crisis

The United Nations has warned Asia is heading for a nine trillion dollar energy infrastructure bill by 2030 if it does not introduce energy saving measures now.

According to the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), rising energy costs and escalating food prices are likely to lead to a financial crisis across the continent.

In his address to commission delegates, Thai Prime Minister Samak Sundaravej said greater attention needs to be paid to the environment to ensure sustainable growth.

ESCAP has also issued a report on the high levels of economic growth, massive investments in infrastructure, construction and rising population which has led to a doubling in use of primary energy since 1980.

By staff writer