DUBAI: Matsuzawa Yutaka, Vice-Minister for Global Environmental Affairs at the Ministry of Environment of Japan, highlighted the significance of COP28 in reviewing the global stocktake of the Paris Agreement.

“We are also working with the parties to discuss the outcomes of the stocktake and their contributions for the future during the conference,” the Vice-Minister for Global Environmental Affairs added.

In a statement to the Emirates News Agency (WAM) on the sidelines of his participation in COP28, Yutaka said that countries must transform their economies to reduce net carbon emissions to zero, noting, “all countries have to change to decarbonised net zero society economy by 2050.”

The understanding of the situation of each country individually when developing climate action plans is necessary to ensure that all countries are able to contribute to climate action in a way that is fair and equitable, “No one fits all solution. So, we need to find out the customised solutions for developed countries.”

Japa
n is committed to providing $70 billion in funding for climate action from the public and private sectors and $9 billion through credit enhancement allocations to the World Bank and the Asian Development Bank, which will support this area for developing countries, in addition to technical support and transfer of expertise.

Matsuzawa also expressed appreciation for the efforts of the UAE in its presidency of COP28. He noted that the UAE is a strong and leading figure in climate action and that Japan is committed to supporting the UAE’s efforts.
Source: Emirates News Agency