New Japanese Prime Minister Offering Indonesia $400 Million in Climate Change Funding

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In an effort to help a major developing country (the 4th largest country in the world) deal with climate change appropriately, the new Prime Minister of Japan reportedly agreed to give Indonesia a $400 million loan for this last weekend.

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Supposedly, the Japanese prime minister Yukio Hatoyama first made the offer to the Indonesia president Susilo Bambang Yudhoyono in the Thai beach town of Hua Hin during an East Asian Summit (EAS).

Hatoyama said: “I would like the yen loan to be used for measures to tackle climate change, and hopefully it would be used in a measurable and verifiable manner.”

Indonesia’s work to curb climate change is mainly through efforts to reduce deforestation, but they are doing other things as well. Additionally, they have just set a new target for carbon emissions reductions. Indonesia’s Yudhoyono announced in recent weeks that the country’s current goal is to cut emissions 26% below what they would be if business continued as usual by 2020.

This is the first concrete part of what is being called the Hatomoyama Plan, which is supposed to help developing countries address climate change through both financial and technical means.

The new prime minister of Japan is also urging the Indian prime minister Manmohan Singh to make a concrete commitment to the international community to address climate change, something he thinks is critical to successful climate talks in Copenhagen in december.

via businessGreen

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Image Credit 1: Nature Explorer via flickr under a Creative Commons license

Image Credit 2: devan78 via flickr under a Creative Commons license