Japan Pledges 1.75 T. Yen in Climate Aid

Copenhagen, Dec. 16 (Jiji Press)--Japan on Wednesday expressed its
intention to provide aid totaling 1.75 trillion yen, or 15 billion dollars,
over the next three years to help developing countries better fight global
warming.

Environment Minister Sakihito Ozawa unveiled the plan at a press
conference here during the ongoing 15th Conference of the Parties to the
U.N. Framework Convention on Climate Change, or COP15.
Japan hopes that the aid, part of an initiative proposed by
Japanese Prime Minister Yukio Hatoyama to support developing nations'
efforts to combat climate change, will help break the deadlock in the COP15
talks. Hatoyama unveiled the initiative in his speech at the United Nations
in September.
As part of resources of the aid, Tokyo plans to use part of a
similar support program worth 1.25 trillion yen that was adopted by the
previous administration led by the Liberal Democratic Party.
Recipients of the aid will be developing countries that are
struggling to cope with droughts, floods and other problems caused by global
warming, and nations making active efforts to cut their greenhouse gas
emissions.
Of the total aid amount, 1.3 trillion yen will be provided by
government-backed Japan Bank for International Cooperation. The remaining
450 billion yen will be extended as loans by private-sector banks.
Ozawa said that Tokyo will offer the aid on condition that a new
global framework participated by major greenhouse gas emitters be
established for the fight against climate change. The current Kyoto Protocol
for reducing global emissions is set to expire in 2012.
Participating nations in the COP15 discussions are aiming to reach
a political agreement that will include an outline of a post-Kyoto
framework.
But the discussions are stalemated due to a sharp division between
developed and emerging countries.
Japan is particularly concerned about growing calls for extending
the Kyoto pact that requires only advanced economies, including Japan and
the European Union, to attain emission cuts. Emerging countries such as
China and India, as well as the United States are not bound by the pact.
With the aid offer, Japan hopes to draw support from developing
countries, thereby pressing the United States and China to join a post-Kyoto
global framework.
One of the agenda items at the ongoing COP15 talks is financial aid
to developing nations in the three years from 2010.
Participants are discussing a plan for developed countries to put
up a combined 10 billion dollars annually in the three-year period. The EU
recently decided to provide a total of 7.2 billion euros, or about 10
billion dollars, in 2010-2012.