A review of literature presents the strengths, limitations and effectiveness of fiscal incentives in promoting industrial energy efficiency from various case studies in the region. Some instruments were found to be effective (e.g. voluntary agreements and careful planning in the Peoples Republic of China, market-based instruments were found to efficiently reduce energy intensity). Direct subsidies proved, as expected to put pressure on government budgets with few results. https://www.adb.org/sites/default/files/publication/634696/adbi-wp1172.pdf