Prime Minister Abe,
Minister Koizumi,
Excellencies,
Ladies and gentlemen,

I thank the Government of Japan for convening this meeting to consider how
to forge a sustainable recovery from the COVID-19 pandemic, and Minister
Koizumi for his hard work on climate.

The decisions being taken now will have consequences for decades.

This is why I have been urging governments to incorporate meaningful
climate action in all aspects of recovery initiatives.

I have proposed six climate-positive actions to recover better.

Invest in green jobs.

Do not bail out polluting industries.

End fossil-fuel subsidies.

Take climate risks into account in all financial and policy decisions.

Work together.

And, most important, leave no one behind.

Many countries and cities are now prioritizing green investments in their post
COVID recovery plans.

Here in Japan, I welcome the announcements of 151 local entities,
representing 71 million people, in support of carbon neutrality by 2050.

This global shift towards climate action is gathering pace because leaders
everywhere are realizing that clean energy delivers more jobs, cleaner air,
better health and stronger economic growth.

The world’s top investors – including some in Japan – are abandoning fossil
fuels because renewables are cheaper and more efficient.

Japan’s business associations have also asked the government for decisive
climate action.

They understand that it makes no economic sense to burn money on coal
plants that will soon become stranded assets.

There is simply no rational case for coal power in any investment plan.

To meet the goals of the Paris Agreement, science tells us that global
emissions need to be halved by 2030, and the world must achieve carbon
neutrality by 2050.

These goals remain achievable, but we are currently off track.

I urge all countries, especially G20 members, to commit to carbon neutrally
before 2050.

And I ask them to submit more ambitious nationally determined contributions
and long-term strategies before COP 26 that are aligned with the 1.5-degree
goal.

Japan, which has led the way on technological development in many fields,
can become a world leader on the sustainable and resilient recovery.

The country has the innovative power to avoid being left behind as this
transition gathers pace.

I sincerely hope Japan will end external financing of coal power plants,
commit to carbon neutrality before 2050, set an early phase-out transition for
domestic coal use and significantly increase the share of renewable energy.

I also urge Japan and other donors to maintain their climate finance
commitments and continue to support the most vulnerable.

We are facing two critical crises, COVID and climate change.

Let us tackle both and leave future generations with the hope that this moment
is a true turning point for people and planet.

I wish you a fruitful conversation that can inspire action in all countries and
sectors.

Thank you.

*****