On November 20, 2024, Japan's Environment Minister, Keiichiro Asao, urged countries to establish collective economic targets for reducing greenhouse gas emissions during a high-level meeting at COP29.
Asao emphasized the expectation of reaching a consensus on the New Collective Quantified Goal (NCQG) at the conference. He noted Japan's commitment to contribute $70 billion in public and private support for climate action in developing countries over the next five years, aiming to combat climate change effectively.
The minister highlighted the necessity for the international community to continue collaborative efforts in addressing climate change, particularly through contributions from nations with relevant capabilities and mobilizing private sector funding to meet the 1.5-degree Celsius target.
Reflecting on the three decades since the UN Framework Convention on Climate Change was adopted in 1992, Asao stated that the NCQG must take into account the significant changes in the global economy. He called for parties to set collective economic goals for emission reductions.
Asao also underscored that the success of COP29 hinges on the adoption of detailed operational rules for Article 6 of the Paris Agreement and urged all parties to collaborate on making crucial decisions at the conference. He expressed gratitude to Azerbaijan for its efforts in organizing COP29.