Updated on Sunday, May 06, 2007, 00:00 IST

Kyoto, May 06: Japan today pledged USD 100 million to support clean energy projects in Asia including India, as rapid economic growth brings rising emissions of greenhouse gases.

Japan will also offer loans totalling up to USD two billion over five years to promote sustainable development and measures to combat climate change, Finance Minister Koji Omi told the Asian Development Bank's annual meeting.

"With Asia's role in the world economy growing, CO2 (carbon dioxide) emissions from Asia are having an increasing environmental impact," he said.

"At present, Asia accounts for about 30 per cent of global energy consumption," he said, adding that the region's energy use would double by 2030 from current levels.

"More efficient use of energy and the reduction of CO2 emissions in Asia are necessary for achieving sustainable growth not only in the region, but also in the world," Omi said.

The ADB said Friday it would invest USD 900 million in clean energy projects in 2007 and slightly more in the following two years, with the priority on China, India, Indonesia, Pakistan, The Philippines and Vietnam.

But the development bank came under attack from non-governmental campaigners led by Greenpeace which said that a large portion of the ADB's energy financing was still being channelled into smoke-belching fossil-fueled power.

"The bank must end the obvious contradiction of saying they want to fight climate change, while supporting coal, the most climate-damaging of energy technologies," Greenpeace's Athena Ballesteros said in a statement.

Bureau Report