Japan’s Prime Minister Fumio Kishida announced at the UN COP26 on November 2 that the country will provide up to USD10bn in additional supports for the decarbonization of Asian countries over the next five years, based on the previous USD60bn committed, as reported by Kyodo News on November 3. Among the pledged climate finance, Kishida stated that the country would double the funds used to help other countries cope with climate change to USD14.8bn. The prime minister reiterated that Japan would push toward its carbon neutrality target by 2050 and presented the goal of reducing emissions by 46% in 2030 from the 2013 levels, striving to a higher level at 50%. In addition, Kishida announced to launch a USD100m project of shifting from thermal power to ammonia or hydrogen, and to introduce renewable energy on a maximum basis with Asia as the center.
Under the Paris Agreement, developed countries committed to USD100bn climate finance in proportion for the assistance of climate change adaption in developing countries each year through 2020. So far, the commitment has yet been met and is expected to be completed by 2023, while Japan’s additional USD10bn aims to accelerate filling the gap. On the other hand, Japan is the only one of G7 countries that did not mention the coal phase-out before 2050. Japanese foreign press secretary Yoshida Tomoyuki said that the country would continue using coal in power generation, until it could replace such fossil fuel with renewables like ammonia or hydrogen, its future energy development focuses. Currently, Japan’s pledges related to coal include stopping new financial support for new coal-fired electricity generation facilities by the year-end of 2021, phasing out old thermal power plants, and reducing coal in its energy mix to 19% by 2030.