December 1, 2023

Asia Urges Developed Nations to Triple Financing Commitments at COP28 for a Greener Future

For immediate release

Asia – As the world gears up for the UN Climate Talks (COP28) in Dubai, where a global renewable energy target is poised for adoption, Asia takes a bold stance in demanding developed nations, particularly Japan and China, to triple their financial commitments to support the transition to renewable energy in the region’s developing countries.

Norly Mecardo, the Asia Regional Director of 350 Asia, said: “Asia’s development story must include a decisive shift away from fossil fuels. It’s not just about being green; it’s about common sense. Renewable energy isn’t an alternative; it’s the future if we want to preserve our diverse landscapes and the way of life for future generations. As COP28 is happening, I appeal to the leaders at COP28 to support and accelerate the transition to clean energy for the benefit of our communities.

Asia’s development story must include a decisive shift away from fossil fuels. It’s not just about being green; it’s about common sense. Renewable energy isn’t an alternative; it’s the future if we want to preserve our diverse landscapes and the way of life for future generations. As COP28 is happening, I appeal to the leaders at COP28 to support and accelerate the transition to clean energy for the benefit of our communities.

—Norly Mecardo, 350 Asia Regional Director

Asia stands out as a region particularly vulnerable to the adverse impacts of climate change. Individuals from lower-income countries and those affected by inequality and discrimination are particularly impacted, and despite contributing the least to climate change, bear a disproportionate burden of its impacts. This underscores the urgent need for an equitable global response, emphasizing the imperative to prioritize assistance for those in low-income communities facing heightened climate-related adversities in the region.

As leaders convene at COP28 today, discussing the renewable energy transition commitment, Masayoshi Iyoda, Climate Campaigner of 350 Japan highlights the significance of robust support from developed countries like Japan to help developing countries transition to renewable energy. He stated:

“Japan has a responsibility to support mitigation commitments such as the phase-out of all fossil fuels and tripling renewables, as well as amplify its financial support for developing countries at COP28. Japan should not play a role of a merchant of false solutions such as ammonia co-firing with dirty coal, dangerous nuclear, and CCS/CCUS in the Asia region and anywhere in the world. A tripled commitment will not only accelerate the global shift to renewable energy but also strengthen international partnerships. Our collective efforts today will determine the environmental landscape for generations to come.”

“Japan has a responsibility to support mitigation commitments such as the phase-out of all fossil fuels and tripling renewables, as well as amplify its financial support for developing countries at COP28. Japan should not play a role of a merchant of false solutions such as ammonia co-firing with dirty coal, dangerous nuclear, and CCS/CCUS in the Asia region and anywhere in the world. A tripled commitment will not only accelerate the global shift to renewable energy but also strengthen international partnerships. Our collective efforts today will determine the environmental landscape for generations to come.”

—Masayoshi Iyoda, 350 Japan Climate Campaigner

350 Asia is asking leaders at COP28 to:

  • Increase financial commitments to help developing nations, particularly those impacted by inequality and discrimination deal with and recover from climate impacts and shock. This includes a sevenfold increase in financing for the Global South, including contributions from Japan and China, equating to $100 billion in concessional loans and $200 billion in grants annually.
  • Scaling up the protection system and implementing a clear roadmap to urgently address rapidly escalating loss and damage. The agreed loss and damage fund needs to be allocated to the most affected countries, ensuring targeted support where it is needed the most.
  • Prioritize voices from vulnerable communities affected by inequality and discrimination in climate negotiations, policies and financing.

ENDS

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Notes to editors:

In the lead-up to COP28, throughout November and December, 350.org and partners have organized more than 200 Power Up events worldwide, visually showcasing the global call for a renewable energy revolution (link to photos) as well as a landmark report on financing a global renewable energy target (link to report).

 

Media contacts:

On site:

Masayoshi Iyoda ([email protected]) / +81-90-3557-3610

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