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Published on August 5th, 2014 | by Mridul Chadha

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Japan Announces Enhanced Climate Aid To The Caribbean

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August 5th, 2014 by
 
Caribbean Community-Japan Flag

Flags of the Caribbean Community and Japan

As part of its plan to provide climate aid the developing world, Japan has expanded the support it provides to the Caribbean countries.

Under the Project for Japan-Caribbean Climate Change Partnership, the former will provide eight Caribbean countries $15 million for preparing and designing their Nationally Appropriate Mitigation Actions (NAMAs) and National Adaptation Plans (NAPs). As per the agreements signed over the last few UN-led Conference of Parties countries are required to submit these action plans to the United Nations Framework Convention on Climate Change (UNFCCC) so as to facilitate financial and technical support from the developed countries. The action plans are developing countries’ equivalent of Kyoto Protocol.

Following the preparation of these action plans, Japan has also promised assistance for their implementation. Japan may provide finance and equipment for implementation of mitigation measures (renewable energy and energy efficiency projects), as well as adaptation measures (land, water management).

In May, the Inter-American Development Bank and the Japan International Cooperation Agency (JICA) signed an agreement to boost the amount of concessional loans offered to Caribbean and Central American countries from $300 million to $1 billion. The first loans issued by JICA are already being used for implementation of renewable energy and energy projects in Nicaragua and geothermal power projects in Costa Rica.

Ever since Japan’s exit from Kyoto Protocol, it has aggressively expanded its Joint Credit Mechanism. Through this mechanism, Japan signs agreements with developing countries and provides technical and financial aid to implementation of pilot mitigation projects. In the long-term, Japan is expected to purchase the emissions offset through these projects to fulfil its own emission reduction targets. Such a mechanism ensures supply of cheap mitigation instruments and a market for Japanese clean energy equipment companies.

Recently, Japan signed a Joint Credit Mechanism agreement with Mexico pushing the number of countries covered through this mechanism to 12.

Image credit: Caribbean Community, Japan | Wikimedia Commons

 

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About the Author

currently works as Head-News & Data at Climate Connect Limited, a market research and analytics firm in the renewable energy and carbon markets domain. He earned his Master’s in Technology degree from The Energy & Resources Institute in Renewable Energy Engineering and Management. He also has a bachelor’s degree in Environmental Engineering. Mridul has a keen interest in renewable energy sector in India and emerging carbon markets like China and Australia.



  • JamesWimberley

    “Japan is expected to purchase the emissions offset through these projects to fulfil its own emission reduction targets.” I don’t get this. If Japan has quit the Protocol (because the targets are impossible after the post-Fukushima nuclear shutdown) what is Japan’s obligation? Moral, or anticipation of the replacement treaty? Such offsetting is problematic on the national scale, as there is no alternative for major economies but mitigation. But this will at least help the Caribbean countries. Since they have plentiful and varied renewable resources – not just sun and wind but often geothermal and hydro – zero carbon is not out of reach, as the example of Costa Rica shows.

    It may also be that Japan is thinking of the large number of voting delegations at the next climate jamboree; allies are always handy. Japan has played this card in the whaling convention. The same countries do well out of FIFA, for similar reasons.

    • Offgridman

      By providing financing and training Japan is able to make a small profit or at least keep up with inflation while developing a pool of trained technicians.
      With the way their population is aging and with low birth rates over the next 25-50 years they are going to need an influx of younger people to keep things running.
      With the bad feelings left from WW2 and other historical events they have been having to many problems with trying to bring in people from China, South Korea, or Thailand. So why not help out another Island nation to modernize and become better able to deal with the environmental effects that are coming while at the same time develop the good will and a trained workforce whose own home is going to become to crowded to account for Japan’s own future needs.

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