Press Release
May 30, 2024
- Global Environment
Results of the Tenth Environmental Policy Dialogue held by the Ministry of the Environment, Japan, and the Asian Development Bank
１． The Ministry of the Environment (MOE), Japan, and the Asian Development Bank (ADB) held the tenth Policy Dialogue on May 28, 2024.
２． MATSUZAWA Yutaka, Vice-Minister for Global Environmental Affairs, Ministry of the Environment and Ms. Fatima Yasmin, Vice-President for Sectors and Themes of the Asian Development Bank attended this policy dialogue and exchanged views on climate change, biodiversity, circular economy, air quality management other environmental issues.
３． As a result of the discussion, to peak global GHG emissions by 2025 at the latest and achieve global net-zero emissions by 2050, both parties agreed to accelerate climate finance through enhancing project development of Joint Crediting Mechanism (JCM) that contributes to economy-wide reduction, covering all GHGs. Additionally, they also agreed to cooperate for enhancement of synergies to simultaneously resolve environmental crises such as biodiversity conservation and establishing circular economy, decarbonization in small island states and Central Asia, and success of COP29 in November 2024.
２． MATSUZAWA Yutaka, Vice-Minister for Global Environmental Affairs, Ministry of the Environment and Ms. Fatima Yasmin, Vice-President for Sectors and Themes of the Asian Development Bank attended this policy dialogue and exchanged views on climate change, biodiversity, circular economy, air quality management other environmental issues.
３． As a result of the discussion, to peak global GHG emissions by 2025 at the latest and achieve global net-zero emissions by 2050, both parties agreed to accelerate climate finance through enhancing project development of Joint Crediting Mechanism (JCM) that contributes to economy-wide reduction, covering all GHGs. Additionally, they also agreed to cooperate for enhancement of synergies to simultaneously resolve environmental crises such as biodiversity conservation and establishing circular economy, decarbonization in small island states and Central Asia, and success of COP29 in November 2024.
■ Background
MOE Japan and ADB have held annual environmental policy dialogues since the signing of the Letter of Intent (LOI) on environmental cooperation in June 2014. The tenth Environmental Policy Dialogue was held based on the LOI.
■ Date and time
May 28, 2024, 10:00-12:30 (JST)
■ Venue
Asian Development Bank Headquarters, Metro Manila, Philippines
■ Key participants include
Asian Development Bank
Ms. Fatima YASMIN, Vice-President for Sectors and Themes
Mr. Bruno CARRASCO, Director General concurrently Chief Compliance Officer, Sustainable Development and Climate Change Department
Ministry of the Environment, Japan
MATSUZAWA Yutaka, Vice-Minister for Global Environmental Affairs
SUGA Yoshinori, Director for Sustainable Infrastructure, Global Environment Bureau
Ms. Fatima YASMIN, Vice-President for Sectors and Themes
Mr. Bruno CARRASCO, Director General concurrently Chief Compliance Officer, Sustainable Development and Climate Change Department
Ministry of the Environment, Japan
MATSUZAWA Yutaka, Vice-Minister for Global Environmental Affairs
SUGA Yoshinori, Director for Sustainable Infrastructure, Global Environment Bureau
■ Main points of discussion
In this policy dialogue, both parties shared confirmation of the progress of cooperation and the trends for measures of both organizations in the 12 areas of “Work Program on Cooperation for Environment between MOE Japan and ADB for June 19, 2023 – June 18, 2026” agreed on last year. Particularly among them, considering the results of COP28 of last year and those of G7 Ministers' Meeting on Climate, Energy and Environment of this year, both parties exchanged their views on the initiatives to peak global GHG emissions by 2025 at the latest and achieve global net-zero emissions by 2050.
As a result of the discussion, MOE Japan and ADB, which proceeds with initiatives as “Climate Bank” of Asia and the Pacific, agreed to accelerate climate finance through enhancing development of JCM projects that contributes to economy-wide reduction, covering all GHGs, in addition to energy-related CO2. Furthermore, they also agreed to cooperate for, enhancement of synergies to simultaneously resolve environmental crises such as biodiversity conservation and establishing circular economy, decarbonization in small island states and Central Asia, and success of COP29 in November 2024.
The outline of other discussions is as follows:
As a result of the discussion, MOE Japan and ADB, which proceeds with initiatives as “Climate Bank” of Asia and the Pacific, agreed to accelerate climate finance through enhancing development of JCM projects that contributes to economy-wide reduction, covering all GHGs, in addition to energy-related CO2. Furthermore, they also agreed to cooperate for, enhancement of synergies to simultaneously resolve environmental crises such as biodiversity conservation and establishing circular economy, decarbonization in small island states and Central Asia, and success of COP29 in November 2024.
The outline of other discussions is as follows:
(i) Climate Change
(Japan Fund for the Joint Crediting Mechanism (JFJCM))
‣By expanding the targeted gas for JFJCM to other greenhouse gas such as Fluorocarbons as in addition to CO2 and Methane gas, MOE Japan and ADB will proceed with exploration toward project development for reduction of emissions of HFC etc.
・MOE Japan and ADB will discuss about development of projects with high synergistic effects that will contribute to resolution of environmental issues other than climate change.
(International Carbon Market)
・MOE Japan and ADB will cooperate in training on practical capacity building targeted for developing countries by the Paris Agreement Article 6 Implementation Partnership (A6IP).
(ii) Biodiversity
・MOE Japan and ADB will collaborate and cooperate in side events to advance initiatives based on the Kunming-Montreal Global Biodiversity Framework in the 16th Conference of the Parties of the United Nations Convention on Biological Diversity that will be held in Columbia this October.
・MOE Japan will explore cooperation through Nature Solutions Finance Hub as the initiatives of nature-based solutions that ADB proceeds with.
(iii) Air Quality Management
・MOE Japan and ADB will proceed with preparation of projects with high synergistic effects that will contribute to greenhouse gas reduction and improvement of air quality by utilizing JFJCM.
(iv) Circular Economy
(Circular Economy and Waste Management)
・MOE Japan and ADB continue to discuss about the Waste-to-Energy Technology Handbook (Toolkit for Public-Private Partnership).
・MOE Japan and ADB will explore potential cooperation in circular economy fields especially for Small Island Developing States (SIDS), particularly in E-waste.
(Plastic Pollution)
・MOE Japan and ADB will cooperate in holding joint side events in the 5th Intergovernmental Negotiating Committee (INC5) to develop an international legally binding instrument (convention) on plastic pollution, which is scheduled to be held in November of 2024.
・MOE Japan will share publication of “Atlas of Ocean Microplastic (AOMI)” as an open database that provides in addition to two-dimensional map for distribution of microplastic drifting on surface ocean and explore potential cooperation with ADB in support for monitoring in the future.
■ Others
Along with this policy dialogue, the delegate from Japan visited Robert E. A. Borje, Vice Chairperson and Executive-Director of the Philippine Climate Change Commission and the Philippine Securities and Exchange Commission and exchanged views on ongoing cooperation in climate change.
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