Recently the world took two giant steps toward reaching a global agreement to fight climate change in 2015: a landmark U.S.-China accord and a $4.5 billion pledge to the Green Climate Fund by the United States and Japan.
But there are some conditions attached.
After the 2011 Fukushima Daiichi nuclear disaster, Japan halted all existing nuclear operations and significantly scaled back its 2020 emissions-reduction target. As Japan revises its energy policy over the next few years, officials will decide the future of the country’s energy mix—and its climate action.
New research reveals that Japan can likely go beyond its emissions-reduction target with existing initiatives, but needs to pursue more ambitious action in the long-term to truly overcome the climate change challenge.
An Overview of the Current Policy Landscape
In 2013, in the aftermath of the Fukushima Daiichi nuclear power plant disaster, the government of Japan put forth a revised target to reduce greenhouse gas (GHG) emissions by 3.8 percent from 2005 levels by 2020.
This paper analyzes this target and finds that Japan can likely meet it by...
Cornerstone for GHG Accounting: Experience and Recommendations for Corporate Level Data Quality Management in China
Corporate data quality management is a vital component of a reliable GHG accounting system. This report is intended to assist corporate GHG reporters and government authorities in the process of establishing a GHG data quality management system.
There are three phases in developing,...
This piece was co-authored with Smita Nakhooda of the Overseas Development Institute, with inputs from Noriko Shimizu (IGES) and Sven Harmeling (Germanwatch).
Developed countries self-report that they have delivered more than $33 billion in fast-start climate finance between 2010 and 2012, exceeding the pledges they made at COP 15 in Copenhagen in 2009. But how much of this finance is new and additional? Developing countries and other observers have raised questions about the nature of this support, as well as where and how it is spent. Independent scrutiny of country contributions can shed light on the extent to which fast-start finance (FSF) has truly served as a mechanism to scale-up climate finance. Our organizations have analyzed the FSF contributions of the United Kingdom, United States, and Japan, and analysis of Germany’s effort is forthcoming.
Our analysis revealed four key insights into the FSF experience:
1) Developed Countries Have Ramped Up Climate Support
The FSF period has been a difficult one: Developed countries pledged their climate finance support at the advent of unprecedented economic difficulty brought on by the 2008 financial crisis. Nonetheless, developed countries have sustained support for climate change adaptation and mitigation in developing countries, despite fiscal austerity measures that have substantially cut back public spending. Indeed, all of the countries we reviewed appear to have significantly increased their international climate spending since 2010.
In many cases, data limitations impede a direct or accurate comparison of fast-start spending to related expenditures before 2010. But the UK appears to have increased its climate finance four-fold relative to environment-related spending before the FSF period. Germany has nearly doubled climate-related finance. Japan previously mobilized $2 billion per year in climate finance through the Cool Earth Partnership; under FSF, it reports average spending of more than $5 billion per year. Finally, through its Global Climate Change Initiative, the United States has increased core climate funding from $316 million in FY09 to an average of $886 million per year in FY10 to FY12.
Under the United Nations Framework Convention on Climate Change (UNFCCC), developed countries have pledged to provide “fast-start” finance approaching USD 30 billion for the period 2010-2012. Now, in the final year of the fast-start period, these countries are under pressure to demonstrate that they are meeting this pledge. But divergent viewpoints on what constitutes fast-start finance – coupled with unharmonized approaches to delivering and reporting on it – complicate such an assessment.
Starting in May 2012, the Open Climate Network (OCN) will release a series of reports that aims to shed light on these discussions by clarifying how developed countries are defining, delivering, and reporting their fast-start finance.