Mon. Jan 25th, 2021

By MARI YAMAGUCHI, The Associated Press

TOKYO (AP) – Japan aims to eliminate gasoline-powered vehicles in about 15 years, the government said on Friday, calling Prime Minister Yoshihide Suga’s ambitious pledge to be carbon-free by 2050 and about $ 2 trillion in green trade and investment There are plans to generate development. .

The “Green Growth Strategy” urges utilities to use utilities and hydrogen, calling for auto industries to be carbon-free by the mid-2020s.

Suga resolved to achieve net zero carbon emissions in 30 years in a policy speech in October. As the world faces an environmental challenge, green investment is not a burden but a growth opportunity.

The strategy, which provides a roadmap to achieve the goals in various sectors, projected a 30–50% increase in electricity demand and called for a push to triple renewal in the country’s energy mix that is at current levels. Is about 50–60%. Maximum use of nuclear power as a stable, clean source of energy.

But it was unclear whether Suga has the political inclination to overcome the vested interests in resource-poor Japan by its dependence on imported oil and gas.

The strategy identified 14 industries, such as offshore wind, hydrogen, and fuel ammonia, as well as auto and rechargeable batteries and roadmaps for each region. The strategy reflects an installation target for offshore wind power up to 45 GW by 2040.

As part of the strategy, the government has to provide tax incentives and other support to encourage investment in green technology, and with annual growth of 90 trillion yen ($ 870 billion) by 2030 and 190 trillion yen ($ 1.8 trillion) by 2050 Have guessed.

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

Follow Mari Yamaguchi on Twitter at https://www.twitter.com/mariyamaguchi

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