The president of the Asian Development Bank (ADB) has warned of a looming energy crisis in the region.

Haruhiko Kuroda wants Asian nations to take radical steps to increase energy efficiency and invest in renewable energy in order to keep energy demand growth rates in check and prevent climate change.

Speaking at the 6th Asia Clean Energy Forum in Manila, Philippines in June, Kuroda said that economic growth and Asia’s increasing population would lead to a doubling of energy requirements in the region by 2020. He warned that this would lead to a reduction in energy security as well as impact Asia’s poor and vulnerable populations.

“Asians have more to lose from climate change than any other people. The climate fight will be won or lost by decisions made in this region,” said Kuroda. “An important key to lowering energy intensity is the elimination of fossil fuel subsidies and transition to renewable energy.

“Asia must also take radical steps to increase energy efficiency.”

According to the ADB, governments in Asia need to push forward with new business models and policies for clean energy development in order to improve the lives of the 800 million people in the region who do not have access to electricity.

The bank has set a goal of reaching $2 billion of investment annually in clean energy by 2013. In 2010, it invested $1.76 billion in clean energy.