A schoolboy walks up the overhead bridge along a traffic junction in Beppu, Japan. File/Reuters
Japan aims to eliminate gasoline-powered vehicles in the next 15 years, the government said on Friday in a plan to reach net zero carbon emissions and generate nearly $2 trillion a year in green growth by 2050.
The “green growth strategy,” targeting the hydrogen and auto industries, is meant as an action plan to achieve Prime Minister Yoshihide Suga's October pledge to eliminate carbon emissions on a net basis by mid-century.
Suga has made green investment a top priority to help revive the economy hit by the COVID-19 pandemic and to bring Japan into line the European Union, China and other economies setting ambitious emissions targets.
The government will offer tax incentives and other financial support to companies, targeting 90 trillion yen ($870 billion) a year in additional economic growth through green investment and sales by 2030 and 190 trillion yen ($1.8 trillion) by 2050.
A 2 trillion yen green fund will support corporate investment in green technology.
The plan seeks to replace the sale of gasoline-powered vehicles with electric vehicles, including hybrid and fuel-cell vehicles, by the mid-2030s.
To accelerate the spread of electric vehicles, the government targets slashing the cost of vehicle batteries by more than half to 10,000 yen or less per kilowatt hour 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 now, in areas such as power generation and transportation.
The strategy identifies 14 industries, such as offshore wind and fuel ammonia, target the installation of up to 45 gigawatts (GW) of offshore wind power by 2040.
The benchmark Nikkei 225 index fell 0.16% at 22,715.85, its lowest closing since July 17.
The plunge in eurozone business activity caused by lockdowns imposed to stop the spread of the coronavirus eased sharply last month as more businesses reopened and people ventured out, a survey showed on Friday.
Japan’s exports plunged at a double-digit pace for the fourth month in a row in June, backing signs the coronavirus crisis has knocked the economy into its worst postwar recession and raising the spectre of a longer and more painful global downturn.
“We are ensuring all possible assistance to the injured Pakistanis. The Welfare Wing of Pakistan’s Consulate General, Dubai visited the hospitals immediately after the unfortunate occurrence and is constantly in touch with the relevant authorities,” said Hussain Muhammad, the Consul General in Dubai.
During the visit, Sheikh Khaled was accompanied by His Excellency Dr. Mugheer Khamis Al Khaili, Chairman of the Department of Community Development; and His Excellency Saif Saeed Ghobash, Secretary General of the Abu Dhabi Executive Council.
"We will continue to raise the cost of Russia's war, degrade Russia's sources of revenue and impede its efforts to build its war machine," said the group, which includes the United States, Japan, Germany, France, Britain, Italy and Canada.
Donald Trump cruised to a lightning victory Saturday in South Carolina's Republican primary, blitzing rival Nikki Haley in her home state and continuing his march to the nomination and a White House rematch with Joe Biden in November.