On March 12, METI presented an interim report on creating a market where “GX products”would be bought and sold. GX products are goods produced by companies participating in the GX League. These companies are actively taking steps to reduce their greenhouse gas emissions.
Publication date: March 15, 2024 On March 5, the Cabinet approved a bill to amend the Global Warming Countermeasures Promotion Act.Since its introduction in 1998, this bill has had a series of amendments and remains one of the key climate laws in Japan. In its current form, the law promotes environmental conservation and economic and …
Publication date: March 9, 2024 Ministry of Environment Calls for “Transformative Change” in 6th Basic Environment Strategy Draft On February 26, the Japanese Ministry of Environment (MOE) published a draft of the 6th Basic Environment Strategy. Based on the Basic Environment Act of 1993, the MOE must publish a comprehensive strategy outlining its overall and …
Publication date: March 3, 2024 Hokkaido Electric Power Company (HEPCO), ENEOS, and Idemitsu announced on February 20 that they will jointly explore the construction of a green #hydrogen supply chain in Tomakomai, Hokkaido Prefecture. They plan to build water electrolysis plants and hydrogen storage facilities with a capacity of over 100MW by 2030. The plant …
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Publication date: Feb 23, 2024 Japan More Than Doubled New Wind Power Installations in 2023 The Japan Wind Power Association has published its wind power generation report for 2023, showing that new installations reached 572.3MW – an increase of 240% compared to 2022 when the total was 232.9MW. The increase was largely due to the …
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Publication date: Feb 16, 2024 The Japanese government is issuing Japan Climate Transition Bonds this month. The 10-year bond will go live on February 14, and the 5-year bond on the 27th. The sale is expected to raise JPY1.6 trillion, which will be used to implement the government’s Green Transformation (GX) policy. The government’s targets …
Continue reading “Government to Allocate JPY1.6 Trillion Raised From Japan Climate Transition Bonds”
Downward Trend Continues for FY2025 FIT/FIP Prices
January 2024 Monthly Newsletter: The Latest News In The Japanese Power Market
Japan to Set Rules on Undersea Carbon Capture Storage (CCS)
The Japanese government plans to make participation in the emissions trading scheme (ETS) a prerequisite for companies to receive decarbonization support. As discussed in the GX Implementation Council’s December 15 meeting, the move aims to make the ETS more effective and nudge hard-to-abate sectors to commit to deeper emissions reductions.
