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(Songdo, Republic of Korea, 16 November 2014) – It was confirmed today at the G-20 Summit in Brisbane, Australia, that Japan will contribute US$ 1.5 billion to the Green Climate Fund to help developing countries respond to climate change. The new commitment was jointly announced by Japanese Prime Minister Shinzo Abe and US President Barack Obama. The Japanese pledge came one day after the U.S. President pledged a landmark US$ 3 billion to the Fund.
With this latest announcement, the Green Climate Fund has received early pledges from 13 nations, totalling US$ 7.5 billion equivalent, including the combined US$ 4.5 billion from the U.S. and Japan.
“Our pledges will be reiterated at the GCF’s pledging session on 20 November in Berlin, Germany, where additional countries are expected to announce pledges,” the leaders stated in a White House release, adding that "we encourage all countries that are able to join us in pledging to GCF."
“This early Japanese announcement of its very significant contribution to the Green Climate Fund is another testimony of Japan’s historic leadership in the global action to tackle climate change," said Héla Cheikhrouhou, Executive Director of the Fund. "The Japanese policy makers and citizens have once again stood up for what is right to do for our planet."
Heads of state used the 2014 G-20 Summit to engage into deliberations on climate change and confirmed they will support strong and effective action. In their final communique leaders reaffirmed their "support for mobilizing finance for adaptation and mitigation, such as the Green Climate Fund."
In their report to G-20 Ministers, the Climate Finance Study Group of the G-20 advised to “strengthen the Green Climate Fund as a central mechanism to deploy climate finance towards developing countries, with the expectation it becomes over time the main multilateral global fund for climate change finance.”
The Group of Twenty is a forum for international economic cooperation and decision-making. Its membership comprises the following 19 countries plus the European Union: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States.
Ms. Cheikhrouhou welcomed the final declarations of G-20 Leaders and said, "I am optimistic that such consensus statement by the leaders of the Group of Twenty will translate into further significant contributions by those members who have not yet announced their pledge to the Green Climate Fund.”