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 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 …

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 …

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 …

METI Considers Creating Market for “GX Products”

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.

Companies Required to Participate in GX Emissions Trading to Receive Green Funding

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.