Japan aims to get rid of petrol vehicles found in next 15 years
26 December, 2020
Japan aims to remove petrol-powered vehicles within the next 15 years, the government said on Friday found in an idea to reach net zero carbon emissions and generate practically $2 trillion a 12 months in green growth by 2050.
The “green growth strategy”, targeting the hydrogen and auto industries, is intended as an action intend to achieve Prime Minister Yoshihide Suga’s October pledge to remove carbon emissions on a net basis by mid-century.
Mr Suga has built green investment a high priority to help revive the market strike by the Covid-19 pandemic and to bring Japan into range with europe, China and additional economies environment ambitious emissions targets.
“The government has create ambitious targets to attain a carbon neutral society in 2050,” said Yukari Takamura, professor at the University of Tokyo. “Producing clear goals and insurance policy route in the green growth strategy gives incentives for firms to invest in future technology.”
The government will offer you tax incentives and additional financial support to companies, targeting 90tn yen ($870 billion) a year in additional monetary growth through green investment and sales by 2030 and 190tn yen ($1.8tn) by 2050.
A 2tn yen green fund will support corporate investment in green technology.
The plan seeks to displace the sale of new petrol-powered vehicles with electric vehicles, including hybrid and fuel-cell vehicles, by the mid-2030s.
To accelerate the spread of electric power vehicles, the federal government targets slashing the price tag on vehicle batteries simply by more than half to 10,000 yen or less per kilowatt hour simply by 2030.
It aims to boost hydrogen consumption to 3 million tonnes by 2030 and to about 20 million tonnes by 2050 from 200 tonnes in 2017, found in areas such as power generation and transportation.
The strategy identifies 14 industries, such as for example offshore wind and fuel ammonia, and targets installing up to 45 gigawatts of offshore wind power by 2040.
Japan also aims to employ renewable energy “whenever you can” by 2050, mainly through off-shore wind farms, with a good reference target of renewable energy options accounting for 50 % to 60 % of the nation’s electricity by 2050, up from less than 20 % now, while lowering reliance on nuclear electricity.
Source: www.thenationalnews.com