politics

Japan adopts green growth plan to go carbon free by 2050

The strategy, which provides a roadmap to achieving the goals in different sectors, projected 30-50% increase in electricity demand and called for a push to triple renewables in the country’s energy mix to about 50-60% from the current level, while also maximizing use of nuclear power as a stable, clean source of energy.

But it was unclear if Suga has the political heft to overcome vested interests in weaning resource-poor Japan from its reliance on imported oil and gas.

The strategy identified 14 industries, such as offshore wind, hydrogen and fuel ammonia as well as autos and rechargeable batteries and roadmap for each sector. The strategy shows an installation target for offshore wind power of up to 45 gigawatts by 2040.

Under the strategy, the government is also to provide tax incentives and other support to encourage investment into green technology, and projected an annual growth of 90 trillion yen ($870 billion) by 2030 and 190 trillion yen ($1.8 trillion) by 2050.

The government will offer tax incentives and other financial support to companies, such as a 2 trillion yen ($19 billion) green fund.



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