(Bloomberg) — Japan will boost its annual financial
support to 1.3 trillion yen ($10.6 billion) by 2020 to help
developing countries tackle climate change.
The announcement, by Prime Minister Shinzo Abe, comes as
world leaders prepare to gather in Paris for talks aimed at
producing a global deal on the climate. The summit, known at
COP21, is scheduled to begin on Monday in the French capital.
“I will attend COP21 and would very much like for an
agreement to be reached on a new global framework to reduce
greenhouse gas emissions,” Abe told a meeting on Thursday,
adding that the extra support will help pave the way toward the
goal of $100 billion in climate financing a year by 2020 from
Japan will also contribute by promoting innovation, Abe
“The development of revolutionary technology is key to both
tackling climate change and economic growth,” he said.
Green Climate Fund
The 1.3 trillion yen commitment is for one year and
includes support from both public and private sectors, according
to a document from the Ministry of the Environment. The amount
is 30 percent more than what Japan currently allocates annually.
Among the key issues in Paris talks will be how to mobilize
and share the burden of providing financial support. Japan
follows the U.S. in terms of pledged amount to the Green Climate
Fund, set up to reduce greenhouse gas emissions in developing
countries, according to the fund’s website.
Meanwhile, newly released figures show some gains being
made by Japan at home.
The nation’s greenhouse gas emissions fell 3 percent in the
year ended March 31 compared with a year ago thanks to energy
saving measures, according to preliminary figures from the
The ratio of electricity output from renewable sources
excluding hydro also rose to 3.2 percent from 2.2 percent and
emissions fell even with no output from nuclear power stations,
according to the document.
It’s the first annual drop in emissions since 2009.
Still, Japan is facing criticism from environmental groups
because of dozens of plans at home to build power stations
powered by coal, the most polluting fossil fuel, and for the
financing of coal projects abroad. The Japanese government
supports advanced coal technologies, while some governments and
companies in Europe and the U.S. are moving away from coal.
To contact the reporters on this story:
Chisaki Watanabe in Tokyo at email@example.com;
Maiko Takahashi in Tokyo at firstname.lastname@example.org
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Reed Landberg at email@example.com
Iain Wilson, Abhay Singh