Japan urged to triple renewable energy capacity by 2035

(MENAFN – Jordan Times) TOKYO – Hundreds of multinational corporations on Tuesday urged Japan to triple its renewable energy capacity by 2035 as the heavily coal-dependent country updates its energy policy.

The group of more than 400 major companies that have committed to working towards using 100% renewable energy, known as RE100, includes 87 Japanese companies, such as Sony and Panasonic.

“By increasing its domestic renewable energy capacity, Japan can significantly improve its energy security, secure its international competitiveness and increase private investment in more renewable energy projects,” the group said.

It calls on Japan to use its Strategic Energy Plan, due to be unveiled this year, to triple its installed renewable energy capacity from 121 gigawatts in 2022 to 363 gigawatts by 2035.

At December’s COP28 climate talks, nearly 120 countries, including Japan, pledged to triple the world’s share of renewable energy within seven years – a global undertaking to which each country’s contribution may differ.

According to 2022 data from the International Energy Agency, Japan (22.6%) and the United States are in the Group of Seven countries with the lowest share of renewable energy in current power generation.

The Japanese government has set itself the goal of achieving carbon neutrality by 2050, but has declined to provide a date for phasing out coal-fired power plants at this year’s G7 climate meeting, where ministers agreed the target would be the mid-2030s.

They also retained a place for coal-fired power if it is “downscaled,” meaning its emissions are captured or reduced by technology – something considered by many to be unproven and a distraction from reducing fossil fuel use.

RE100 was founded 10 years ago by the international non-profit Climate Group in partnership with the global NGO Carbon Disclosure Project (CDP), which tracks and rates companies’ climate commitments.

Ahead of the adoption of Japan’s revised energy strategy, six policy recommendations were made to improve “the availability and affordability of renewable energy sources in Japan.”

The world’s fourth-largest economy is heavily dependent on fossil fuels, partly because many nuclear reactors are out of operation after the 2011 Fukushima meltdown.

MENAFN29062024000028011005ID1108389266

Legal disclaimers:
MENAFN provides the information “as is” without warranty of any kind. We are not responsible for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, please contact the provider above.