Keynote address presented at the United Nations Meeting on Energy and Environment in the Development Process, Beijing, June 6-12, 1991.

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Energy for development utilizing traditional supply investments, estimated to cost $1.4 - $4 trillion through 2010, will be unaffordable both for recipients and lenders. The capital required, even if obtainable, would squeeze out capital for all other development requirements and would pose unacceptable environmental and cleanup costs. Upgrading existing energy supply systems would cost a fraction of new supply. Energy efficiency and environmentally benign renewables can at least halve new supply capital requirements and avoid their environmental costs. Least cost planning by lenders and recipients, on the basis of total system life cycle costs, for both energy and non-energy related investments, is essential. Regional centers are needed for energy efficiency and renewable education, training, implementation and O & M support and joint procurement. Significantly increased energy and environmental investments are critical.