Statement by Kengo Sakurada, Chairman of Keizai Doyukai
on Higher Target of 2030 Greenhouse Gas Emissions Reduction

April 23, 2021

Kengo Sakurada
Chairman, Keizai Doyukai

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1. Prime Minister Suga has announced at the climate change summit that Japan aims to raise its nationally determined contributions (NDC) to 46%, or reduce its greenhouse gas emissions by 46% in FY2030 from its FY2013 levels. It is a big milestone toward the long-term goal of achieving net-zero emissions by 2050, affirming Japan's commitment to accelerate concrete actions until 2030. We welcome the announcement as it shows Japan's willingness, inside and outside the country, to demonstrate leadership in resolving climate change challenges, in cooperation with advanced nations that share universal values.
2. Climate change challenges have direct impacts on nation's growth strategy, industrial policies, and economic security. Meanwhile, the prime minister's announcement aims to take on ambitious targets. It is important - through facing the targets - to connect promotion of technological development and inducement of investment with Japan's robust economic growth and bolstering of industrial competitiveness. In the area of the energy policy, the Strategic Energy Plan should be reviewed to have consistency with the NDCs and to contribute to Japan's international competitiveness. In particular, there is a pressing need to raise the ratio of renewable energy and to create environment that allows for effective utilization of the existing nuclear power plants.
3. We, business leaders, will position climate change and energy at the center of our business strategy, and actively invest in technologies and products/services, which are likely to contribute to achieving the goals. In line with this, we must look at the unique situations and the reality facing Japan, bearing in mind the ways to make the most of Japan's technologies and assets. It is essential, then, that we explore how to contribute to the international community, by pursuing both reduction of greenhouse gas emissions and bolstering of its international competitiveness. One of its practical examples is the commercialization of e-fuels.
4. Keizai Doyukai will continue to raise important issues, at its Future Selection Forum, in relation to climate change and energy with relevant alternatives, through discussions with the younger generation and other diverse stakeholders in the society.

Japanese version