In a heart-warming gesture, Japan has pledged a whopping $100m to fight global warming and also urged to arrive at an international agreement to reduce greenhouse gas emission.
At a time when some quarters believe that Asia’s rapid economic growth and industrialization might spell doom for the environment, Japan pledged the grant to the Asian Development Bank (ADB) in its support for sustainable development.
The ADB is trying to shatter the myth that progress in economically backward nations comes at the cost of environment and it also refuted allegation of funding indiscriminate development.
ADB Managing Director General Rajat Nag said this was not the case.
I think for quite some time, Asia has made the assumption that you grow first and worry about the environment later.
He also asserted that the governments no longer followed the line that environment is something not to be worried today.
ADB President Haruhiko Kuroda, however, reminded that Asia’s energy consumption has increased 230% over the last three decades and the continent emits a quarter of the world’s greenhouse gas.
Japan’s grant would be used to promote the renewable energy sources like solar power apart from attracting greener investment.