Japanese Businesses Push For Higher 2030 RE Target

92 Companies Including Toshiba, SoftBank, Sony, Nissan & Panasonic To Name A Few Urge Japanese Government To Push Up Country’s 2030 Renewable Energy Target To 40% To 50%, Up From Current 22% To 24%
09:47 PM (Beijing Time) - 18. January 2021
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Compared to several other countries, Japan’s renewable energy target for 2030 is way lower, and there is significant potential in increasing the same to account for 40% to 50% of the current target, claim 92 corporations that have called on to the Japanese government to revise the same. (Source: Renewable Energy Institute)

Key Takeaways

  • A total of 92 JCI members have sent a message to the Japanese government to increase the country’s renewable energy targets by 2030
  • Compared to current 22% to 24% targeted renewable energy share by 2030, they want the country to go up to 40% to 50%
  • It will enable Japanese companies to play a greater role in global business environment and thereby contribute to mitigating climate crisis, they claim

Japan’s renewable energy target for its total energy mix by 2030, at 22% to 24%, is by far the lowest compared to several others of its peers in the Western world, especially when taking into consideration that the country already reached 18% share in 2019, according to the Japan Climate Initiative (JCI) and the Renewable Energy Institute (REI). A group of 92 companies, all members of the JCI have now have come together to urge the government to increase the target to a share of 40% to 50% in its mix by 2030.

They want the government to revise the fiscal 2030 target in the next Strategic Energy plan to be formulated in 2021.

In a message to Japanese policymakers, the signatories from different industries—including electrical, IT, automotive, aviation, shipping, retail, food, steel, retail, shipping, glass, chemical to insurance and finance sectors —believe that for Japan to meet its responsibilities to be a leader in global efforts, the target needs to be much more ambitious.

“An ambitious target will stimulate renewable energy deployment, and Japanese companies will be able to play a greater role in the global business environment, where decarbonization is accelerating,” reads the message. “It will enable Japanese companies more committed to the challenge of mitigating the climate crisis.”

Some of the prominent names to the list of signatories include Sony, Panasonic, Nissan, SoftBank, Aeon, Seven & I, All Nippon Airways, Toshiba, among others.

Their assertions are backed by REI’s 2030 scenario it released last year according to which it is possible for Japan to achieve a 45% sustainable electricity generation mix by 2030 without the use of nuclear or coal power. The REI report assessed solar PV installation capacity to have the potential to be extended to 145 GW by the target year from 55.6 GW at the end of 2019. Under the current policy scenario it is expected to reach 102.1 GW.

In October 2020, Japan pledged to go carbon neutral by 2050 aiming to bring down its GHG emissions to zero. While making the announcement Japanese Prime Minister Yoshihide Suga stressed on solar and carbon recycling, however finer details are yet to be announced (see Japan Pledges Carbon Neutral Target By 2050).

The country will comfortably exceed its current renewable energy target reaching 27%, according to Wood Mackenzie analysts (see Japan Likely To Exceed RE Target By 2030: Wood Mackenzie).

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani