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COP26: Japan to Pledge $10 billion to Decarbonize Asia

Marina Maletic

November 16, 2021
COP26: Japan to Pledge $10 billion to Decarbonize Asia

During the Glasgow COP26 summit, Kishida, the Japanese Prime Minister, said Japan will invest $10 billion in decarbonization in Asia over the next five years.

According to the Japanese News, Kishida said Japan is committed to reducing greenhouse gas emissions. He said the goal is to reduce the emissions by 46% by 2030, compared to the 2013 emission level.

Then, they strive for the 50% mark and net-zero emissions by 2050.

statement

“Kishida also said, “Japan will provide up to $10 billion in the coming five years” in additional assistance to reduce emissions mainly in Asia. This would go toward fulfilling a 2009 commitment by developed countries to provide developing countries with an annual total of $100 billion in climate-related assistance by 2020.”

Apart from this, Japan has already promised to provide $60 billion in public and private assistance from 2021 to 2025, bringing the total to $70 billion.

Japan plans to encourage the use of renewable energy and switch the use of fossil fuels to using ammonia and hydrogen.


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