Japanese government calculated requisite worldwide spending to combat global warming

(October 27, 2009)

TOKYO, JAPAN --The Japanese government has decided to make a trial calculation of the amount of funds needed worldwide to mitigate global warming and present a related proposal at forums of international negotiation by the time of the 15th Conference of Parties (COP 15) in December. Japanese Minister of the Environment Sakihito Ozawa disclosed this information at a press conference following the Cabinet meeting on October 23.

A calculation of this sort has already been made by the U.K. government, which pointed out that developed and developing countries must cooperate in raising about 100 billion dollars a year for the cause by 2020. The Japanese government intends to make an original calculation of its own and use it to take the initiative in international negotiations. On the question of when the government would announce its proposal, Minister Ozawa stated his desire to make the announcement before the COP 15 talks, but refrained from making a clear commitment, adding: "The final decision will be made by Prime Minister Hatoyama."

Asked about the Hatoyama Initiative, a package of support in this area for developing countries, Ozawa said matters were at the stage of studies to hammer out the basis for discussion. As for the breakdown of the 25% figure posted by Hatoyama as Japan's medium-term target for reduction of greenhouse gas emissions, Ozawa said that it would be determined on the basis of international negotiation, thereby reaffirming the policy of not making an announcement of the details before COP 15.