TOKYO, 31st July, 2023 (WAM) -- The Institute of Energy Economics of Japan (IEEJ) affirmed that the 28th Conference of the Parties (COP28) to the UN Framework Convention on Climate Change (UNFCCC) is set to be held at a critical juncture, especially as it will feature vital discussions on countries' energy contributions, energy transition pathways and costs, and enhancing measures related to protecting the planet from the negative repercussions of climate change.
In a statement to the Emirates News Agency (WAM), Toshiyuki Sakamoto, Board Member of the IEEJ, expressed his confidence in the UAE's COP28 Presidency, noting that Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate, possesses the experience required to coordinate policies related to environmental conservation and reduction of greenhouse gas (GHG) emissions.
The AR6 Synthesis Report: Climate Change 2023, issued by the Intergovernmental Panel on Climate Change (IPCC) in March 2023, warned of the current global warming rate of around 1.1C above pre-industrial levels, Sakamoto explained, adding that the continuation of the current GHG emission levels hinders the drive to keep temperatures from rising to over 1.5C above pre-industrial levels, and COP28 is an important opportunity to discuss this vital topic."
He said that the participation of around 200 countries will ensure that COP28 talks will cover numerous key issues, including the energy transition, gradual reduction of GHG emissions and the importance of combatting deforestation, further adding to the UAE's track record in supporting COP's solutions and intended results.
The IEEJ official revealed that, during COP28, the Japanese government will particularly focus on exploring carbon capture, utilisation and storage (CCUS), especially with Japan targeting net zero by 2050, highlighting Japan's allocation of a 20 trillion yen (US$140 billion) to support the private sector in its decarbonisation efforts by 2050.
By 2030, Japan will have 59 percent of its energy generated through renewable and nuclear sources, with fossil fuels accounting for only 41 percent of our energy mix, Sakamoto further explained.
He also touched on the meetings of energy ministers of the Group of 7 (G7) countries, and the G7 Hiroshima Leaders' Communique, adding that Japan is the only Asian country in the G7, which testifies to its role in calling for tangible solutions that support developing and Asian countries.