Our reliance on carbon-based fuels has led to global warming which is causing climate change. Nations need to find a solution to this issue that will not only protect our environment in ways that will create jobs, income, and economic growth, but will also solve our economic problems in an environmentally sustainable manner.

This calls for the use of more renewable energy sources and more efficient production processes that will entail less energy and use of natural resources.

The current financial crisis provides an opportunity to position the Asian economies on more sustainable pathways of growth through public policy initiatives that encourage greener private investments. Senior officials from 22 Asian countries unanimously adopted the Manila Declaration on Green Industry in Asia and Framework of Action at the International Conference on Green Industry in Asia recently held in Manila.

The Declaration outlines the steps needed to reduce carbon emissions of Asian industries and provides a mechanism to periodically review and assess progress in implementing the framework of action towards a low carbon future. It calls for measures such as the incorporation of cleaner production policies in national development plans, and the fostering of a viable business environment conducive to investments in green industries. It also encourages the promotion of increased use of renewable energy and energy-efficient processes in the industrial sector, research and development programs that will lead to green innovation, and investments and financing in low-carbon and resource-efficient manufacturing industries.

The Manila Declaration, a roadmap towards a green growth strategy, represents a significant shift in Asian countries’ power consumption in the near future. It turns out that the solutions to the climate change crisis in Asia are the very same measures needed to escape the trap of ever-rising energy prices.

To speed up the transition to new energy sources is a big challenge to officials.

It is not only a matter of phasing out fossil fuels. It needs political will to make it happen.