Shulman Advisory

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 …

Government to Allocate JPY1.6 Trillion Raised From Japan Climate Transition Bonds

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 …

Tokyo’s New Green Hydrogen Certification Scheme

Publication date: Jan 19, 2024 The Tokyo Metropolitan Government will introduce a new system to certify users of hydrogen produced from renewable electricity in 2024. This certification scheme is designed to incentivize the use of green hydrogen and promote its wider adoption throughout Tokyo by verifying a company’s previous year’s green hydrogen use. The Tokyo …

Three Japanese Consortia Win Second Offshore Wind Auction

Publication date: January 8, 2024 The METI and the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) announced on December 13 the results of the second round of bids for offshore wind projects based on the Renewable Energy Sea Area Utilization Law. Off the coasts of three cities in Akita Prefecture, a consortium of four …

Japanese Companies and Organizations Call For Stricter Carbon Pricing

Publication date: January 5, 2024 On December 5, a proposal was published by the Japan Climate Initiative (JCI) – a group representing over 180 major Japanese companies and organizations – calling on the government to introduce a #carbon pricing policy that is more stringent, more transparent, and more in line with international standards than current …

Japan Renewable Energy Industry Developments Of 2023

Publication date: January 1, 2024 As we end another year, we would like to express our sincere gratitude for your continued support and engagement. We appreciate your trust in our team and hope our content has been informative and helpful to you. Some of our friends and readers have been asking us what it is …

Bids to Supply Solar Power under FIT/FIP Drop Below JPY8 for First Time

On November 24, Japan’s Organization for Cross-Regional Coordination of Transmission Operators (OCCTO) announced the results of the 18th round of bids to supply solar power under the FIT/FIP system. The lowest bid price was JPY7.94/kWh, which is the first time it has dropped below JPY8/kWh. Solar projects whose generation capacity is between 250kW and 500kW …

November Newsletter: The Latest News In The Japanese Power Market

The year-end is fast approaching, and the Japanese government is lining up new subcommittees and working groups to be launched in the new year, focusing on policies and guidelines for new technology and regulation in the Japanese power market. In addition, the Cabinet Office’s GX Working Group has been meeting regularly to decide on the …

Japan plans Offshore Wind Power Development in Exclusive Economic Zone (EEZ)

Japan is accelerating its efforts to develop offshore wind power as an essential means to achieve carbon neutrality by 2050 and ensure energy security. The government aims to introduce 10GW of offshore wind power by 2030 and 45GW by 2040. To achieve the 2040 target, annual construction of 2 to 3GW (more than double the …

Japan To Take Steps To Create Market For Direct Air Capture (DAC)

METI announced that it will convene an expert working group to consider the creation of a market for direct air capture (DAC) in January next year. Even as Japan makes progress on clean energy technologies and energy efficiency, there will still be residual CO2 emissions from hard-to-abate sectors. To offset these emissions, Japan plans to …