At COP26 last year, the rules to put the Paris Agreement into practice were finalized, and the world began to shift from the “negotiation” phase toward the “implementation” phase for decarbonization. But at this critical juncture for accelerating efforts to cut emissions, and as the global economy emerges from the pandemic, it now faces an energy crisis triggered by Russia’s aggression against Ukraine. Nevertheless, despite these challenges, losing momentum on the path to carbon neutrality is not an option.
Toward COP27
Global leaders gather in Sharm El Sheikh, Egypt for this year’s COP27 against a backdrop of growing urgency in the battle to control climate breakdown and to secure stable energy supplies.
“We have a responsibility to every generation to conclude COP27 successfully,” says NISHIMURA Akihiro, Minister of the Environment, who is representing Japan at the conference. “For the global 1.5°C goal, further cuts are necessary in emissions from countries — particularly the major emitters — whose Nationally Determined Contributions (NDCs) and long-term strategies are not consistent with our goal.”
NDCs embody efforts by countries to reduce national emissions and adapt to the impacts of climate change, and signatory nations to the Paris Agreement shall communicate this every five years.
Japan’s GX roadmap
Japan’s roadmap for the transformation toward decarbonization for the decade ahead will be laid out in detail by the end of this year. NISHIMURA points out that Japan has already established a long-term strategy and NDCs in line with the Paris Agreement and is currently moving full steam ahead with its implementation.
“Japan is promoting green transformation (GX) toward carbon neutrality by combining growth-oriented carbon pricing and investment support to drive more than 150 trillion yen (around $1 trillion dollars) of financing over the next 10 years in Japan,” adds NISHIMURA. The government also launched a national campaign to create new and affluent lifestyles aligned with decarbonization and to promote such innovation through public-private partnerships.
Transition to decarbonization with Asia and the world
The economies of ASEAN are forecast to grow to 2.7 times their current size by 2050, a rate of expansion that will cause a sharp increase in energy demand.
“There will be continued delivery of $70 billion in five years as climate finance support, in particular, the doubling of adaption finance, as announced at COP26,” explains NISHIMURA.
Through the ASEAN Climate Change Action Agenda 2.0, the Asian Energy Transition Initiative (AETI), and the Just Energy Transition Partnership (JETP), Japan will support the promotion of renewable energy and carbon dioxide capture utilization and storage (CCUS) tech, as well as energy transition by using hydrogen and ammonia to achieve effective emission reductions in developing countries and around the world.
Solutions to the world
During COP27, the Japan Pavilion will present cutting-edge technologies to directly reduce GHG emissions, to recycle the unavoidable emissions of CO2 as resources, and for adaptation to minimize the adverse effects of climate change. These technologies will help provide solutions to the various challenges that countries are facing. In addition, around 40 events will be hosted at the Japan Pavilion to introduce leading efforts and to discuss further measures to promote climate change countermeasures including sustainable finance, long term strategy, transparency, satellite observation, zero carbon cities, fluorocarbon and methane emission reduction.
On November 16, there will be an event to launch a partnership for swift and robust implementation of Article 6 of the Paris Agreement, which facilitates cooperation among relevant stakeholders on achieving their NDCs as well as global emission reduction.
“The key to creating opportunities for emission reductions through increased private financing is the timely development of a high-integrity carbon market in line with Article 6,” suggests NISHIMURA.
In addition, the Joint Crediting Mechanism (JCM), which facilitates the diffusion of decarbonizing technologies and infrastructures for sustainable development of developing countries, and evaluates Japan’s contributions to GHG emission reduction as JCM credits to be used to achieve the NDCs of Japan and the partner country, will be expanded to 24 partner countries (As of 25 October).
Japan will strengthen comprehensive collaboration with stakeholders both domestically and internationally to meet its own decarbonization targets while also contributing to its partners in achieving their targets.
To find out more about Japan pavilion, click here.