Publication date: July 4, 2024 Japan Power Industry Developments of the First Half of 2024 We are pleased to present our “Japan Power Market Industry Highlights for the First Half of 2024.” This report offers a comprehensive overview of pivotal events and advancements in Japan’s renewable energy sector from January to June, including key milestones, …
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Publication date: June 14, 2024 Japan Cuts Red Tape in Effort to Create Green Hub in Sapporo On June 4, the Japanese Financial Services Agency designated Sapporo, Hokkaido, as a “Financial and Asset Management Special Zone” to help encourage green investment. The region had asked for the rules around green transition (GX) policies to be …
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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 …
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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 …
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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 …
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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 …
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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.
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.
