Shulman Advisory

Japan to Set “GX 2040 Vision” to Accelerate Decarbonization Efforts

Publication date: May 24, 2024 Japan to Set “GX 2040 Vision” to Accelerate Decarbonization Efforts On May 13, Prime Minister Kishida convened the 11th Green Transformation (GX) Implementation Council, where he introduced the “GX 2.0” initiative, marking the next phase in Japan’s decarbonization strategy. “By enhancing the various mechanisms already established, we will tackle the …

Japan’s Prefectures Consider Taxes on Renewable Energy

Publication date: May 20, 2024 Japan’s Prefectures Consider Taxes on Renewable Energy In April, a new tax was introduced by Miyagi Prefecture on large-scale renewable projects in forested areas. The move has encouraged other prefectures in the Tohoku region to open dialogue regarding the introduction of renewable taxes of their own, with Yamagata announcing on …

Japan’s First Long-Term Decarbonization Auction Shows Bess Is Booming

Publication date: May 16, 2024 Japan’s First Long-Term Decarbonization Auction Shows Bess Is Booming On 26 April, the Organization for Cross-regional Coordination of Transmission Operators (OCCTO) published the results of Japan’s first “Long-Term Decarbonization Power Source Auction” (LTDA), or Long-Term Decarbonization Capacity Market. The overarching aim of the LTDA is to incentivize and accelerate Japan’s …

April 2024 Monthly Newsletter: The Latest News In The Japanese Power Market

Publication date: May 6, 2024 April 2024 Monthly Newsletter Welcome to the April edition of our newsletter! As the cherry blossoms fade and golden week approaches, we delve into the latest policy changes shaping Japan’s energy landscape. We offer insights into the evolving dynamics of the Japanese power market, covering generator-side wheeling charges, Japan’s inaugural …

Japan’s GX League Updates Guidance on Private-Sector Carbon Credits

Publication date: May 3, 2024 Japan’s GX League Updates Guidance on Private-Sector Carbon Credits The Minister of Economy, Trade and Industry (METI) has updated its guidance to include more voluntary carbon credits under the GX-ETS (currently in a trial phase until FY2025). These will be in addition to the JCM and J-credits that have been …

Japan’s Domestic GHG Emissions Hit Record Low in FY2022

Publication date: April 28, 2024 Japan’s Domestic GHG Emissions Hit Record Low in FY2022 Last week, the Ministry of Environment (MoE) reported that Japan’s domestic greenhouse gas (GHG) emissions (minus absorptions) hit a record low in FY2022 of 1.135 billion metric tons, falling 2.5% from 1.164 billion metric tons in FY2021. This is a reduction …

Japan to Pass Bill Promoting Clean Hydrogen Supply

Publication date: April 19, 2024 Japan to Pass Bill Promoting Clean Hydrogen Supply Japan is taking action to promote hydrogen, which is a key plank in its 2050 net zero target. As reported in an article published by Nikkei, the Japanese government plans to spend an as yet unspecified amount over the next 15 years …

Government Publishes Guidebook for Green Startups

Publication date: April 15, 2024 Government Publishes Guidebook for Green Startups On March 29, the Ministry of Economy, Trade and Industry (METI) put together a 119-page guidebook for startups that will contribute toward decarbonization, strengthen industrial competitiveness, and support Japan’s overall economic growth. So far in Japan, much of GX Policy has been led by …

Renewable Energy Projects Under Feed-In-Premium System on the Rise

Publication date: April 7, 2024 On March 27, METI reported that renewable energy generation capacity operating under the Feed-in-Premium (FIP) system had increased by 150% since October 2023. The number of renewable projects certified under the FIP system rose even more significantly, almost quadrupling in the same period. The increases show how successful the scheme …

March 2024 Monthly Newsletter: The Latest News In The Japanese Power Market

Publication date: April 4, 2024 March 2024 Monthly Newsletter Welcome to the March edition of our newsletter on the latest happenings in Japan’s power market. As cherry blossoms bloom across the country, signaling the early arrival of spring, we’re here to bring you fresh updates and insights into Japan’s dynamic energy landscape. In this issue, …