Japan to Create a 2 trillion yen ($19.2 billion) Green Fund to Include Hydrogen

By December 5, 2020 2   min read  (247 words)

December 5, 2020 |

Japan Hydrogen WM

Prime Minister Yoshihide Suga held a press conference at the Prime Minister’s Office on Friday the 4th of December, in which he outlined how his government is going to set up a 2 trillion yen fund to support cooperating companies in order to achieve the goal of virtually zero greenhouse gas emissions by 2050.

Positioning environmental measures as a growth strategy, he stated, “We will create an unprecedented 2 trillion yen fund and continue to support companies that challenge ambitious innovation for the next 10 years.”

In terms of Hydrogen the Prime Minister said, ” Positioning the inexhaustible hydrogen as a new power source, we will realize a large-scale, low-cost hydrogen production equipment. We will also develop hydrogen airplanes and hydrogen cargo ships.”

He continued “Environmental preparedness is no longer a constraint on economic growth. Rather, it encourages Japanese companies to invest in the future, improve productivity, support the transformation of the economy and society as a whole, and generate great growth. In order to shift our thinking toward such a virtuous cycle of environment and growth, the government will take a big step forward in environmental investment in this economic measure.”

In order to achieve Japan’s goal in reducing greenhouse gas emissions to net-zero by 2050, he said that he was “aiming for zero CO2 emissions from automobiles” and planned to “set systems and regulations to maximize the introduction of electric vehicles” to the Japanese market.

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