TOKYO: Japanese Prime Minister KISHIDA Fumio on Thursday announced a plan to implement government support worth some 20 trillion yen to facilitate green transformation for realizing a decarbonized society.

He hopes that the massive support will be a catalyst to achieve over 150 trillion yen in public-private investments in related areas over the next 10 years, an amount considered necessary for decarbonization.

To raise the 20 trillion yen needed for the aid, the government expects to utilize planned green transformation bonds.

Kishida unveiled the aid plan at a meeting to discuss a planned clean energy strategy across government bodies.

He told the meeting that “climate change is a core issue for a new form of capitalism,” one of his signature policies.

Kishida said the government will establish a green transformation implementation task force in summer to set details of the green transformation bonds and government assistance over the next 10 years.

In January this year, Kishida instructed the industry minister to lead the compilation of the clean energy strategy to hit the targets of realizing carbon neutrality by fiscal 2030 and a decarbonized society by 2050.

Last week, the industry ministry disclosed an estimate that Japan needs some 150 trillion yen in public and private investments in related fields in the 10 years to the early 2030s.

JIJI Press