Japanese Ruling Party Urge For Green Investment Incentives In Draft Plan
Dailycsr.com – 30 November 2020 – The ruling party in Japan is going to urge the government to promote environmental investment” along with a “major decade-long spending programme for the country” while the Prime Minister of Japan, Yoshihide Suga has turned “a key policy priority” to green society.
In draft copy of the proposal, the “Liberal Democratic Party” urged the government to create a fund which will be “comparable to global standards” for supporting green technology investments while no specific figures were suggested in the same. According to the Prime Minister, Japan is planning to turn net-zero for carbon emission by the year 2050, while the recommendations coming from LDP will create a base for the government’s “deliberations on a fresh stimulus package”.
The said proposal suggests “incentives to promote green investment” is likely to be key areas of the package while aiming to create a cushion for immediate COVID-19 remated expenses. The draft read which is subject to further change:
“By deploying all policy means available, the public and private sectors must work together to achieve zero carbon emission in 2050”.
Furthermore, the proposal also calls for “deregulation and tax breaks” besides urging the government to come out with “new state-backed loan and loan guarantee schemes” for the firms that were at the brunt of COVID-19 pandemic. The Norinchukin Research Institute’s Chief Economist, Takeshi Minami said:
“It seems (the new package) will clearly be different from just providing support to cope with the pandemic”.
“There will be an increasing number of measures with an eye on a post-COVID society”.
In fact, the draft also mentioned airlines that fell victim of the pandemic and called out the government to support them.
References:
reuters.com
In draft copy of the proposal, the “Liberal Democratic Party” urged the government to create a fund which will be “comparable to global standards” for supporting green technology investments while no specific figures were suggested in the same. According to the Prime Minister, Japan is planning to turn net-zero for carbon emission by the year 2050, while the recommendations coming from LDP will create a base for the government’s “deliberations on a fresh stimulus package”.
The said proposal suggests “incentives to promote green investment” is likely to be key areas of the package while aiming to create a cushion for immediate COVID-19 remated expenses. The draft read which is subject to further change:
“By deploying all policy means available, the public and private sectors must work together to achieve zero carbon emission in 2050”.
Furthermore, the proposal also calls for “deregulation and tax breaks” besides urging the government to come out with “new state-backed loan and loan guarantee schemes” for the firms that were at the brunt of COVID-19 pandemic. The Norinchukin Research Institute’s Chief Economist, Takeshi Minami said:
“It seems (the new package) will clearly be different from just providing support to cope with the pandemic”.
“There will be an increasing number of measures with an eye on a post-COVID society”.
In fact, the draft also mentioned airlines that fell victim of the pandemic and called out the government to support them.
References:
reuters.com
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