$100 billion climate financing pledge by developed countries inches closer after Japan’s $10 billion commitment

In a statement US climate envoy John Kerry said, developed countries have pledged a total of $100 billion towards climate financing following new commitments made by Japan.

In 2009 developed countries had pledged to provide $100 billion by 2020 to help mitigate the effects of climate change and help developing countries mitigate the impact of climate change, is expected to be met only in 2023.

Japanese Prime Minister Fumio Kishida told the COP26 United Nations climate conference in Glasgow that Japan would offer up to $10 billion over five years in additional assistance to support de-carbonisation in Asia. 

In reference to that pledge at a separate COP26 event, Kerry said: “It has the ability to leverage and to produce from the World Bank and other sources about another $8 billion. So that will put us over – if that detail gets locked in properly – that would put us over the 100 for next year, not waiting until (20)23.”

He went on to add, “But as we all know, at these gatherings, it’s not over until it’s over. It’s not done until it’s done, but I believe it can (be).”

Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Strategy, Sustainability

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