Japan pledges $10B towards zero carbon emissions in Asia

ISTANBUL

Japan has pledged at least $10 billion to achieve zero carbon emissions in Asia, the country’s prime minister told the ongoing international conference on climate in Scotland.

“Japan will press onward to undertake efforts toward net-zero emissions in Asia, the engine of global economic growth,” newly elected Prime Minister Fumio Kishida said in his first international appearance since he was re-elected as premier last Sunday.

He was addressing the climate conference in Glasgow, Scotland on Tuesday.

The funds, over and above financial commitments made last year, will be utilized over the next five years, a statement by the Japanese prime minister’s office said.

Kishida reiterated Japan’s commitment to achieving carbon neutrality by 2050 besides reducing greenhouse gas emissions by 46% by 2030.

“To bring about a decarbonized society, Japan will introduce renewable energy as much as possible, and lead the way in the clean energy transition, with a particular focus on Asia,” he said, adding Japan through the Asia Energy Transition Initiative, “will develop leading projects worth $100 million to transform fossil-fuel-fired thermal power into zero-emission thermal power such as ammonia and hydrogen.”

In June last year, Japan announced a contribution worth $60 billion, both in public and private climate finance in the next five years.

He also met US President Joe Biden for their first in-person talks on the sidelines of the conference in Glasgow where the two sides agreed to “enhance the bilateral alliance and closely cooperate toward a free and open” Asia-Pacific region where the two countries are working with their allies, including Australia and India, to restrict influence of China.