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Thursday, January 21, 2021

Japan Vows to Become Carbon Neutral by 2050

Yoshihide Suga, Japan’s new prime minister, has committed his country on Monday to achieving a goal of zero emissions of greenhouse gases and attaining a carbon-neutral society by 2050 through the fundamental shift in guidelines on coal use.

Yoshihide Suga, Japan’s new prime minister, has committed his country on Monday to achieving a goal of zero emissions of greenhouse gases and attaining a carbon-neutral society by 2050 through the fundamental shift in guidelines on coal use.

“Responding to climate change is no longer a constraint on economic growth,” Suga said. “We need to change our thinking to the view that taking assertive measures against climate change will lead to changes in industrial structure and the economy that will bring about great growth.”

Suga emphasized that innovation was necessary in order to achieve their goal, including carbon recycling and next-generation solar cells.

Suga promised investment in development and research as well.

The Japanese government views hydrogen as a new source of energy. They also have high expectations for offshore wind power. 

They have concluded that coal would be a feasible source of power if it could be offset by utilization, storage technology and carbon capture.

“For that potential to be fully realized, Japan will need to . . . start decommissioning coal power,” said the head of responsible investments at Nordea Asset Management, Eric Pendersen. “And as an absolute minimum, Japanese companies must stop building and financing new coal power abroad,” he added in a statement. 

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