Japanese Accredited Global Climate Finance Institutions Need to Disclose Their Engagement With Fossil Fuel Enterprises

Spotlight Activity: Japanese Accredited Global Climate Finance Institutions Need to Disclose Their Engagement With Fossil Fuel Enterprises

??Japan has announced the “Actions for Cool Earth 2.0,” namely, “ACE 2.0” at COP 21. Japan will provide, in 2020, 1.3 trillion yen (about USD 11.6 billion) of public & private climate finance, 1.3 times up from the current level, to developing countries. The Japanese Government had been a major supporter of GCF and pledged USD 1.5 billion for the Fund.

??In the two years from 2015 to 2016, the total of public finance (ODA and OOF) and private finance was approximately USD 23.3 billion.
· In 2015, Japan decided to contribute 1.5 billion yen to GCF.
· Japan contributes approximately USD 2.5 million annually to CCAC: Climate and Clean Air Coalition to Reduce Short-Lived Climate Pollutants (CCAC).
· In 2017, Japan contributed USD 5 million to Capacity-building Initiative for Transparency (CBIT).

Specific initiatives include the following:

– Bilateral ODA
Japan implemented 434 projects for 91 countries based on the demands and needs of the recipient countries in 2015 and 2016. In particular, Japan focuses on supporting adaptation of vulnerable island countries and provided USD 44.1 million for adaptation support to the countries.
– Diffusion of Low Carbon Technology by market mechanism (the Joint Crediting Mechanism (JCM))
Japan has signed bilateral documents on JCM with 17 countries and implemented more than 120 projects of GHG emission reduction and absorption. In result, the cumulative amount of emission reduction and absorption is estimated about 700 million t CO2 (direct effect up to the year 2030).
– Greenhouse gases Observing SATellite (GOSAT)
Japan contributes to refinement of climate change prediction by continuous observation of global greenhouse gas concentration with our satellite “IBUKI” (GOSAT)

3?In May 2015, the Government of Japan and GCF signed a contribution arrangement confirming the conversion of Japan’s pledge of USD 1.5 billion equivalent. It was considered to bring the Fund over the 50 percent threshold required to start allocating its resources for projects and programs in developing countries.

Status: Right Direction

The amount of USD 1.5 billion that Japan announced to contribute to GCF was the second largest after the US that expressed USD 3 billion contribution. It can be said that this contributes greatly to the support of developing countries. Meanwhile, in July 2017, JICA (The Japan International Cooperation Agency) and Mitsubishi Tokyo UFJ Bank received approval and became Japan ‘s first certification body of GCF. However, at the time of this application, since both institutions were engaged in projects in which a large amount of loans to coal-fired thermal power plants or in projects in which human rights violations were occurring at the stage of development, 73 citizens and NGOs had given a protest statement.

Also, since 2013, more than 100 JCM projects have been implemented by the Ministry of the Environment and the Ministry of Economy, Trade and Industry. However, it is said that the credits generated by 2030 will be cumulatively 5.8 million tons, and it is far from the goal in the Plan for Global Warming Countermeasures*, In order to achieve the goal, it is necessary to increase the number of private-based projects and increase by 10 times the amount government’s expenses.

*the Plan for Global Warming Countermeasures was decided on May 2016 by the Cabinet in order to promote global warming countermeasures comprehensively and strategically, based on the Paris agreement adopted at COP21 and Japan’s INDC submitted to the UNFCCC. It aims to further strengthen efforts on developing country support and innovation based on “ACE 2.0”

Take Action

Please send the following message to Minister of Foreign Affairs, Taro Kono

Dear Minister of Foreign Affairs, Taro Kono

The Japanese government is expected to raise further funds for developing countries since President Trump has announced its withdrawal from the support. For financial institutions and private enterprises, it is required to contribute through supports that meet the needs of developing countries so long as these businesses do not contradict the Paris agreement.

In 2017, the Japanese institutions which continue financial support to the coal related business have become GCF Accredited Entities. In order to achieve the goal of the Paris agreement in the future, we request to the GCF Accredited Entities disclosure of climate-related financial information and clear targets for reducing carbon asset exposure.

Contact
Minister of Foreign Affairs
Web: Leave message (https://www3.mofa.go.jp/mofaj/mail/qa.html)

References
https://www.mofa.go.jp/ic/ch/page24e_000119.html
https://www.env.go.jp/en/headline/2238.html
https://www.mofa.go.jp/ic/ch/page25e_000106.html
https://www.env.go.jp/press/100950/mat02_1-1-1.pdf
https://www.greenclimate.fund/documents/20182/24868/Status_of_Pledges.pdf/eef538d3-2987-4659-8c7c-5566ed6afd19
https://www.env.go.jp/press/files/jp/102816.pdf

???????????????????????????

1) COP21 ??????????????????? 2.0?ACE2.0????????????????????????? 1 ???? 89 ? US ????? 2020??????? 1.3 ???? 116 ? US ????????????????
??
·2015 ??? 2016 ???? 2 ????ODA?OOF??????????????????????? 233 ????????????
·2015 ????? GCF ???? 15 ? US ???????????
·??????? ???????????????????CCAC?????? 250 ? US ??????????
· 2017 ??????????????????????CBIT??? 500 ? US ????????

????????????????????????
– ODA ?????????
??? 2015 ?? 2016 ????????????????? 91 ?????? 434 ? ?????????????????????????????????????? ??????????????????????????????? 44.1 ????? ?????
-????????????????????????????????JCM??
????? 17 ??? JCM ??????????????120 ??????????????·???????? ????????????????????????????·?????? 700 ? tCO2?2030 ??????????????????
– ??????????????????????GOSAT?
??????????????????GOSAT?????????????????? ???????????????????????????????
3?2015?5???????GCF???????????GCF?15?????????????????????????????GCF??????????GCF????????????????????50?????GCF????????????????

??????????

??????????GCF??????????15??????????30?????????????????2????????????????????????????????????2017?7??GCF??????????????????JICA??????UFJ????????????????????????????????????????????????????????????????????????????????????????????73????NGO??????????????
??2013????????????????100????JCM???????????????2030???????????????580??????????????????*?????????JCM?????????2030????????5?????tCO2? ??????????????????????????????????????????????? 10?????????????

*????????????COP21???????????????????????????????????????????????????????????????????????????????ACE2.0???????????????????????????????????????
?????
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??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????2017???????????????????????????GCF????????????????????????????????????????????????????????????????????????????????????????

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Web: (https://www3.mofa.go.jp/mofaj/mail/qa.html)

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