Japan is prepared to build a comprehensive strategy aimed at decarbonisation and industrial policy, which will determine the country’s course until 2040, as part of a concerted effort to lead sustainable growth.
On Monday, the ministry representatives disclosed that the goal of the Japanese government is to present this comprehensive strategy by the end of March next year.
The carefully crafted plan, which seeks to combine industrial development with decarbonisation objectives, is intended to stimulate investments that would accelerate the country’s shift to a greener economy and increase the competitiveness of domestic sectors. Talks to develop this plan started at the “Green Transformation (GX) implementation conference,” which Prime Minister Fumio Kishida presided over.
Heading the project at the Industry Ministry, Director-General Yojiro Hatakeyama presented the schedule, which called for the delivery of a proposal by year’s end and the completion of the plan by the end of March. Japan is the fifth-largest carbon producer in the world, so the plan fits with its aggressive goals, which include achieving net-zero status by 2050 and a 46% reduction in emissions by 2030.
With the passage of legislation last year allocating over 150 trillion yen (US$962 billion) for decarbonisation investments, the 2040 strategy is well-positioned to improve and broaden these initiatives.
