In a Reuters analysis of data tracking global energy shifts since the Paris climate agreement, Asia emerges as a region making remarkable strides in clean energy. Despite the West's push to restrict private funding for coal power, Asian nations have significantly increased their clean energy output and reduced reliance on fossil fuels at a pace surpassing North America and Europe.

Between 2015 and 2022, Asia notably elevated clean power—such as wind, solar, hydro, and nuclear—to constitute 32% of its overall energy output, marking an 8-percentage point surge. In comparison, Europe and North America saw smaller increases, reaching 55% and 46% respectively.

Conversely, the share of fossil fuels in Asia's power generation dropped by 8 percentage points to 68%, outpacing the reductions seen in Europe (4%) and North America (6%).

India's power and renewable energy minister R.K. Singh emphasized the necessity of meeting escalating power demands without the pressure to reduce emissions, a sentiment echoed by China, highlighting the essential role of fossil fuels in meeting their energy needs reliably.

Despite these advancements, Asia, accounting for a substantial portion of global power generation emissions, continues to witness a rise in emissions due to surging electricity demands. This contrasts with declining emissions in Europe and North America since the Paris accord.

The discrepancy in emissions has fuelled debates, with Asian nations calling on wealthier countries to assist in emissions reduction, considering historical per capita emissions and ongoing fossil fuel use by developed nations. They argue for financial aid to facilitate the transition away from coal, particularly in countries like Indonesia, where funding shortages hinder the shift to renewable energy.

While the West aims to curb coal financing, it has turned to natural gas as a transitional energy source, increasing its share in power generation, unlike Asia where its usage has declined. Additionally, reductions in nuclear power have slowed emission reduction efforts in Europe and North America, despite their higher reliance on nuclear energy compared to Asia.

India, a significant coal user, advocates for a phase-down of all fossil fuels rather than singling out coal, emphasizing the need.