Speech by Prime Minister Kishida at COP28: Action to Zero led by Japan and UAE

December 2, 2023

[Provisional translation]

Good afternoon everyone, it gives me great pleasure to introduce to you here in Dubai, where COP28 is being held, the significant contribution that Japanese technology can make towards achieving net zero across the world. Action to Zero. The title of this event shows the strong will of those of us present here.

In July this year, I visited the UAE to launch, together with President Mohammed, an initiative to turn the Middle East region into a 'Global Hub for Decarbonisation' using Japanese technology as well as a cooperation framework in the field of advanced technology. Today, I am delighted that an MOU has been signed between Japanese and UAE companies as a concrete result of this. This will be followed by a ceremony in the presence of President Muhammad and Chairman Jaber.

As Chair of the G7 Hiroshima Summit, I have confirmed that all countries will work towards a common goal of net zero emissions under 'various pathways' tailored to each country's circumstances, while ensuring economic growth and energy security.

Japan will turn the change of decarbonisation into 'power'. And we will use that 'power' to take on the two remaining major challenges: 1) the industry decarbonisation and 2) the decarbonisation of continuing growing Asia.
I recently had the opportunity to meet Mark Carney, Co-Chair of GFANZ, in Japan. He said, "There is a complete lack of investment in decarbonising industry, and we will launch a platform to promote investment at the COP."
Japan is also embarking on domestic GX and green transformation, including in collaboration with GFANZ, and Japan will lead the world's industrial decarbonisation.

In addition, fast-growing Asia accounts for more than half of global emissions. GX investment in Asia is estimated to be worth JPY 4,000 trillion by 2050, and the world needs investment. Japan will issue the first internationally certified GX Economic Transition Bonds. Through the Asia Zero Emissions Community (AZEC) initiative, Japan will contribute in a concrete way with projects. From COP to AZEC'. The first AZEC summit will be held in Tokyo in the middle of this month.

'Action to Zero'. Problem-solving capavility as an engine of growth. Decarbonisation is also a growth opportunity for Japan. We will make full use of Japan's financial and technological capabilities and work with other countries in Asia and the Middle East to achieve decarbonisation and economic growth together.

Thank you very much.

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