Japan’s pledge brings climate finance goal closer to $100 billion, says US envoy

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U.S. Presidential Special Envoy for Climate John Kerry speaks during the United Nations Climate Change Conference (COP26) in Glasgow, Scotland, Britain November 2, 2021. REUTERS/Yves Herman

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GLASGOW, Nov 2 (Reuters) – The developed world’s $100 billion climate finance target could be reached a year ahead of schedule, U.S. climate envoy John Kerry said on Tuesday, citing new commitments made earlier today by Japan.

In 2009, the developed countries most responsible for global warming pledged to provide $100 billion a year by 2020 to help developing countries cope with its consequences. This commitment is currently not expected to be fulfilled before 2023.

Prime Minister Fumio Kishida told the UN climate conference COP26 in Glasgow that his country would offer up to $10 billion over five years in additional aid to support decarbonisation in Asia. Read more

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Citing that commitment at a separate COP26 event, Kerry said: “It has the ability to leverage and generate from the World Bank and other sources approximately an additional $8 billion.

“So that will put us above – if that detail is locked in properly – that would put us above 100 for next year, not waiting for (20)23.

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

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Reporting by William James; edited by Barbara Lewis

Our standards: The Thomson Reuters Trust Principles.

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