« EVENT - Climate change, natural disasters, and financial risks | Main | Temple University Japan 3 July 2023 at 12:00: Chris Griswold: Japanese and US industrial policy »

June 22, 2023

Japan and Climate Change: Not As Bad As It Looks, Part I

From: RICHARD KATZ <rbkatz@rbkatz.com>
Date: 2023/06/21

It's easy to feel frustrated about Japan regarding climate change. It often feels as if the country only makes progress kicking and screaming, and that Prime Minister Fumio Kishida is reversing the progress made under his predecessor, Yoshihide Suga. This perception is strengthened by Japan's moves at this year's Group of Seven (G7) meeting of cabinet ministers in charge of energy and climate, where it worked hard to support the continued use of coal.
 
           This, however, is just one side of the picture. Japan is a battleground. Recall that Suga, in defiance of the fossil lobby, accelerated Japan's shifts to renewable energy and goals for emissions reduction. Dozens of planned coal plants were never built because they no longer make sense and the one plant being built now will likely be the last. Auto companies are being forced to shift to Electric Vehicles faster than they intended. Solar power is growing faster than expected, partly due to government subsidies.
 
           Within a few years, Japan will find building and running new solar and onshore wind facilities cheaper than operating existing coal and gas-fired power plants. When doing the right thing for the environment becomes the more profitable thing for producers and the cheaper thing for customers, that's a powerful game-changer.
 
For details, see  https://richardkatz.substack.com/p/japan-and-climate-change-not-as-bad

Approved by ssjmod at 11:43 AM