China, Southeast Asia need to invest in sustainable energy

China and Southeast Asia need to boost investments in renewable energy by US$1.6 trillion to slow growth in greenhouse gas emissions over the next 20 years, the World Bank said. The region already plans to invest US$100 billion a year to boost energy efficiency and develop renewable energies and technologies. But that won’t be enough to keep carbon emissions from doubling over the next 20 years, according to the bank. China, the world’s most populous country and biggest emitter of greenhouse gases, must shoulder 80% of the extra US$80 billion a year needed to stabilize carbon use by 2025 and lower emissions by 2030, the bank said. The World Bank hopes US$25 billion of the annual additional investment will come from low-interest loans from developed countries and multinational agencies. (April 19, 2010)