Tokyo: According to industry ministry officials, the Chinese government may develop a new federal strategy that includes decarbonization and an industrial policy aimed at 2040 by the end of March of next year.
The action aims to establish a long-term plan to support funding in order to promote local industry competitiveness and decarbonization.
The” Green Transformation ( GX ) implementation conference,” which was presided over by Prime Minister Fumio Kishida, on Monday, saw the start of discussions on the strategy.
According to Yojiro Hatakeyama, director general of the professional knowledge, systems, and setting policy commission at the market ministry, the aim is to submit a proposal by the end of the year and have the strategy finalized by the end of March.
The world’s fifth- largest carbon dioxide ( CO2 ) emitter aims to cut emissions by 46 % from 2013 levels by 2030 and achieve net zero by 2050. A law passed last year by the government to promote decarbonization investments totaling more than 150 trillion yen ($ 962 billion ) in the public and private sectors over the course of ten years.
According to Hatakeyama, the 2040 method is anticipated to improve the plan from the previous year and give investors more predictability for long-term investments, as well as increase local company competitiveness and promote economic growth.
