ADB president Haruhiko Kuroda said the region faced a "daunting challenge in securing energy" and expanding economies needed to spend more on clean energy technologies.

"About 70 percent of Asia's energy needs are dependent on fossil fuels -- a primary source of greenhouse gases. Asia now accounts for one quarter of the world's gas emissions," Kuroda told a regional clean energy forum.

"Without a change in course, it will get worse," he said, noting that the International Energy Agency estimates the region would have to invest up to five trillion dollars through 2030 on new energy infrastructure.

A major chunk of the investments would likely go toward coal-fired power plants to produce electricity, leading to global carbon dioxide emissions of over 40 billion tonnes in the next 23 years, he said.

Of the total emissions, 40 percent would be coming from Asia, Kuroda said, adding that this would also lead to a increase in global mean temperatures.

"Given this potential impact, issues surrounding energy security and sustainable development are central to Asia's future, and to the world's," Kuroda said.

He said developing countries should be encouraged to "explore possibilities for renewable energy sources, such as wind, solar and bio-fuels." They should also explore trade schemes or taxes on emissions to fund cleaner energy investment.