Japan To Eliminate ‘Gasoline-Powered Vehicles’ by 2035
Dailycsr.com – 29 December 2020 – Japan has made a target of eliminating vehicles that run on gasoline within the span of coming fifteen years, informed the Japanese government last week. The plan is a part of the aim to achieve “net zero carbon emissions” besides generating around “$2 trillion” annually through “green growth” by the year of 2020.
The “green growth strategy” affects the automobiles as well as the hydrogen industries whereby supporting “Prime Minister Yoshihide Suga’s October pledge” to arrive at net carbon emissions by “mid-century”. The Prime Minister of Japan has put green investment under his “top priority” list as a measure to revive the economy that suffered under the pandemic blow in order to bring Japan at par with the “European Union, China and other economies setting ambitious emissions targets”. According to a professor from the “University of Tokyo”, Yukari Takamura:
“The government has set up ambitious targets to achieve a carbon neutral society in 2050”.
“Making clear goals and policy direction in the green growth strategy will give incentives for companies to invest in future technology.”
The government tax incentives along with “other financial” help will be available for companies that target “90 trillion yen” a year through green investments in “additional economic growth” by 2030, while generating “190 trillion yen” through sales by 2050. While, Reuters reported:
“A 2 trillion yen green fund will support corporate investment in green technology”.
The agenda of the above mentioned proposal is to replace “gasoline-powered vehicles” sales with electric vehicles incorporating even the “hybrid and fuel-cell vehicles” by 2035. For accelerating EV sales, the government aims to shedding 50% cost on batteries by over “10,000 yen or less per kilowatt hour by 2030”. Also Reuters added:
“The strategy identifies 14 industries, such as offshore wind and fuel ammonia, and target sthe installation of up to 45 gigawatts (GW) of offshore wind power by 2040”.
References:
reuters.com
The “green growth strategy” affects the automobiles as well as the hydrogen industries whereby supporting “Prime Minister Yoshihide Suga’s October pledge” to arrive at net carbon emissions by “mid-century”. The Prime Minister of Japan has put green investment under his “top priority” list as a measure to revive the economy that suffered under the pandemic blow in order to bring Japan at par with the “European Union, China and other economies setting ambitious emissions targets”. According to a professor from the “University of Tokyo”, Yukari Takamura:
“The government has set up ambitious targets to achieve a carbon neutral society in 2050”.
“Making clear goals and policy direction in the green growth strategy will give incentives for companies to invest in future technology.”
The government tax incentives along with “other financial” help will be available for companies that target “90 trillion yen” a year through green investments in “additional economic growth” by 2030, while generating “190 trillion yen” through sales by 2050. While, Reuters reported:
“A 2 trillion yen green fund will support corporate investment in green technology”.
The agenda of the above mentioned proposal is to replace “gasoline-powered vehicles” sales with electric vehicles incorporating even the “hybrid and fuel-cell vehicles” by 2035. For accelerating EV sales, the government aims to shedding 50% cost on batteries by over “10,000 yen or less per kilowatt hour by 2030”. Also Reuters added:
“The strategy identifies 14 industries, such as offshore wind and fuel ammonia, and target sthe installation of up to 45 gigawatts (GW) of offshore wind power by 2040”.
References:
reuters.com
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