The days of gasoline-powered cars are numbered in Japan. Indeed, within 15 years, the country will phase out vehicles that run on gasoline. Announced by the Japanese government in late 2020, the measure is part of its goal to reach net-zero carbon emissions by 2050.
The green growth strategy also aims to generate $2 trillion a year through the adoption of new energy sources, such as hydrogen, and the expansion of sustainable industries.
Prime Minister Yoshihide Suga maintains that green investment is a top priority in the country's strategy to recover from the crisis caused by the COVID-19 pandemic. These initiatives align the economies of Japan, Europe, China, and other nations focused on eliminating greenhouse gas emissions that contribute to global warming.
“The government has set highly ambitious goals to reach net-zero emissions by 2025,” says University of Tokyo professor Yukari Takamura. “Having clear objectives and policies aligned with a green recovery encourages companies and industries to develop technologies toward this goal.”
The Japanese government will offer tax incentives and financial support to companies participating in this strategy. This includes $1.8 trillion by 2050, alongside a 2-trillion-yen fund to support green technology companies.
Via CicloVivo.
This article was written by Natasha Olsen. The translation is powered by AI.
