Japan will lay out a “green growth strategy” that includes a goal to replace gasoline-powered vehicles with electric cars by around 2035. Under the strategy, the government will set 14 targets for promoting a greener society, such as installing up to 45 gigawatts of offshore wind power by 2040. The green strategy will also include an estimate that renewable energy will contribute 50-60% of Japan’s total power in 2050, according to the draft of the strategy document obtained by Nikkei.
Suga has made green investment a top policy priority to help revitalize the economy and bring Japan in line with other regions setting ambitious carbon-neutral targets. Japan will look at reducing greenhouse gas emissions beyond its current target for 2030 and lay out details next year on a carbon pricing scheme that won’t rule out a carbon tax, a government executive told Reuters this week.