Japan and US pledge billions to climate fund

• 9 years ago (2014-11-19)
• Junior Isles

Asia 850 Europe 1061 North America 998

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Japan and the US made separate climate funding announcements at the G20 (Group of Twenty) summit of world leaders in Brisbane, Australia, on November 15th and 16th. The two countries pledged up to $1.5 billion and $3 billion, respectively, to the UN Green Climate Fund.

The announcements come just days after a landmark deal by the US and China to reduce their greenhouse gas emissions over the next ten to 15 years and according to some observers send strong political signals.

“President Obama’s pledge of $3 billion is very significant not only because it demonstrates his personal commitment in supporting developing countries to tackle climate change, but also because it will also generate momentum for other developed as well as developing countries to provide funding as well,” said Saleemul Huq, director of research body the International Centre for Climate Change and Development in Dhaka, Bangladesh.

The fund was set up in 2013 to help the world’s poorest nations invest in clean energy and move away from fossil fuels. But there are disputes regarding whether and how much industrialised countries should contribute to the fund.

The Japanese and US promises come ahead of a Green Climate Fund meeting in Berlin, Germany, on 20 November, where nations can pledge funding support.

This will be followed by the next UN climate summit (COP 20) in Lima, Peru, which will gather climate negotiators from across the world. They will start drafting the 2015 international climate change accord that is due to be finalised and signed in Paris, France, next year.