News
Green Finance
According to the Japanese media on December 20, the government has adjusted the issuance amount of “GX Economic Transformation Bond” (tentative name) to about 500 billion yen. The government aims to raise more than 150 trillion yen in government and private investment over the next 10 years, of which 20 trillion yen will be raised through this bond. The aim is to support the initial investment and promote the idea of a zero-carbon society.
【VIEW】
https://www.jiji.com/jc/article?k=2022122000573&g=eco
Carbon Neutrality
The Sino-Japan Forum on Carbon Neutrality was co-organized by the Shanghai Academy of Social Sciences and Mitsubishi Corporation, with the theme of “Mutual Learning on Carbon Neutrality between China and Japan: Strategies, Policies, and Technological Innovations.” Experts, scholars, and business representatives from China and Japan attended the 2022 Sino-Japan Forum on Carbon Neutrality held on Monday in Shanghai. The forum was aimed at enhancing Sino-Japan cooperation in research and exchange and exploring collaboration opportunities between the two countries in carbon neutrality transition, said Wang Dezhong, president of the Shanghai Academy of Social Sciences. Experts from both sides acknowledged climate change as one of the top priority cooperation agendas between the two countries and noted that Sino-Japan carbon-neutral cooperation has broad prospects and far-reaching significance. Mitsubishi Corporation will invest 2 trillion yen in GX (green transformation) in 2020-30, said Junichiro Nakatsuka, chairman and general manager of Mitsubishi Corporation (China). Meanwhile, Mr. Shin Sasahara, director of the Japan-China Economic Association’s Shanghai office, said that the comprehensive forum on energy conservation and environmental protection between the two countries, which was interrupted by the pandemic, will resume at the end of the year.
【VIEW】
https://www.chinadaily.com.cn/a/202212/13/WS63981bfca31057c47eba42ae.html
https://www.afpbb.com/articles/-/3443374
Energy-saving Tech
Toyota Motor said it will cooperate with Thai conglomerate Charoen Pokphand Group in producing hydrogen from farm waste and introducing fuel cell trucks in Thailand in a bid to achieve carbon neutrality in Thailand. Hydrogen, which can be extracted from biogas produced from farm waste, will power fuel-cell trucks that CP plans to introduce, according to Toyota. The two companies will also study ways to make logistics in Thailand more energy-efficient by utilizing connectivity technology.
【VIEW】
https://www.japantimes.co.jp/news/2022/12/15/business/corporate-business/toyota-thailand-carbon/
Carbon Capture
The State of Wyoming, Japan Coal Energy Center (JCOAL), and Kawasaki Heavy Industries (KHI) have signed a Memorandum of Understanding (MOU) to advance a Carbon Capture test project to be conducted at the Wyoming Integrated Test Center. The MOU signals Wyoming’s intent to work with JCOAL and KHI on a joint project to test their “novel solid sorbent capture technology” at the Wyoming Integrated Test Center (ITC). KHI has been in the planning and design phases for this test since 2018. The project is now moving into the construction phase, with KHI expected to be onsite at the ITC in 2021.
Nuclear Policy
The Osaka District Court ruled Tuesday that a 45-year-old nuclear reactor in central Japan can continue to operate, rejecting demands by residents that it be suspended because of safety risks, a decision supportive of the government’s push for greater use of nuclear energy because of possible global fuel shortages and the country’s pledge to reduce carbon emissions. This ruling was the first on the safety of reactors that have operated for more than 40 years.
Perspectives
Green Transition 【MONOist】
On December 9, 2022, Anaplan Japan held a simultaneous online and offline media roundtable to introduce the latest examples of the green transformation brought about by Anaplan, a cloud-based business protocol. Anaplan has transformed the basic operations of Excel into a high value-added business, enabling automated and efficient analysis and providing high-precision forecasting support for management strategies. In addition, Asahi Kasei Corporation has built a carbon footprint visualization system to help make management decisions, as it is frequently asked about internal carbon pricing and how to control greenhouse gas emissions through budgeting.
【VIEW】
https://monoist.itmedia.co.jp/mn/articles/2212/16/news060.html
Decarbonization app 【PRTIMES】
“Alcoin” is a smartphone app that allows users to accumulate coins from their daily commute to school, to work, and on the go. The app automatically counts steps while walking, so coins can be earned easily without any additional effort. By using Alcoin to visualize the reduction of carbon emissions, people can be made more familiar with the Sustainable Development Goals (SDGs), to achieve a truly sustainable society.
【VIEW】
https://prtimes.jp/main/html/rd/p/000000014.000093190.html
Climate Policy 【The Japan Times】
At the COP15 nature summit in Montreal, researchers and officials said the new global agreement to halt and reverse harm to Earth’s biodiversity could also play a vital role in boosting the world’s ability to combat climate change. This agreement includes a target to restore at least 30% of degraded land, inland water, and coastal and marine ecosystems by 2030. The United Nations named 10 flagship projects to announce its top priorities for restoring global ecosystems, however, scientists have wanted that restoration needs to be carefully planned to ensure the work is genuinely positive for the climate and biodiversity, that people have to pay attention to projects that may create huge trade-offs. To meet this goal, restoration projects need to account for things like the structure and functions of an ecosystem’s plants and animals.
【VIEW】
https://www.japantimes.co.jp/news/2022/12/20/world/cop15-nature-climate-change/
Decarbonization Tech 【Lincoln Journal Star】
Judging from Japan’s recent commitment to achieving carbon neutrality, it is highly like that Japan will look to bioethanol as a vital part of a well-rounded energy portfolio. Nebraska ethanol has a remarkable history of offering solutions. With its help, Japan might reduce CO2 emissions from transportation by five times. Additionally, by reducing the country’s dependence on fossil fuels, Japan will be able to maintain stable gas prices and energy security.
Clean Energy 【Yahoo Finance】
Japan is quickly becoming a major hydrogen hub, as it begins to use the fuel in a range of innovative ways. However, many of these projects continue to rely on hydrogen derived from fossil fuels, which will likely be detrimental to Japan’s climate goals. To advance the hydrogen market in line with climate targets, the Japanese government must offer a clear definition of ‘clean hydrogen’ and promote the production of green hydrogen as opposed to grey and blue hydrogen to ensure that new projects incorporate renewable energy technology into operations as the industry develops.
【VIEW】
https://finance.yahoo.com/news/next-japan-burgeoning-hydrogen-industry-180000821.html
Carbon Emission 【The Japan Times】
Qatar promised to host the first carbon-neutral World Cup — but environmental experts doubt Doha’s accounting toward that goal. Carbon Market Watch affirmed that Qatar has undercounted the footprint of the six permanent stadiums constructed for the event by a factor of eight, coming to 1.6 metric megatons of carbon dioxide equivalent instead of the 0.2 metric megatons of CO2 equivalent The host nation has also faced criticism for the number of flights that have been operating during the tournament. As a result, environmental advocates are calling for climate impacts to be front and center in deciding the location of future global sporting events.
【VIEW】
https://www.japantimes.co.jp/news/2022/12/16/world/greener-sporting-events-qatar/
Carbon Footprint 【AZO Cleantech】
It is critical to assess the medical sector’s carbon emissions if action is to be taken to address the climate crisis. A significant portion of developed nations’ carbon footprint is caused by the medical industry. A team led by lecturer Takanori Yamamoto discovered that, over the previous ten years, the global carbon footprint of Nagoya University Hospital had grown by almost 27%. Researchers believed that the severity of COVID-19 nevertheless continued to contribute to carbon emissions – fewer patients meant a smaller overall carbon footprint for the hospital than in previous years, but the severity of COVID-19 meant a larger carbon footprint per hospitalization.
【VIEW】
https://www.azocleantech.com/news.aspx?newsID=32732
Interpretations
【Green Transition】What is the Omika Green Network? How will it achieve the goal of creating a decarbonized society in the GX region?
In June 2022, Hitachi launched the Omika Green Network concept, which aims to achieve carbon neutrality throughout the value chain in collaboration with the supply chain and surrounding regions. As the core of the Omika Green Network, the Omika Factory has so far achieved optimization of the entire value chain by utilizing IoT-based technologies and data analytics to provide solutions for the development, design, and post-delivery operation and maintenance of hardware and software. In addition, Hitachi has been involved in environmentally friendly energy management, such as power consumption visualization and reduction of peak power consumption, contributing to the stable supply and operation of critical social infrastructure such as electricity and railroads for many years.
【VIEW】
https://social-innovation.hitachi/ja-jp/article/omika-green-network/
【Carbon Neutrality】Accelerating Decarbonization – Over 40% of Overseas Japanese Companies Have Committed
The latest results of JETRO’s annual survey of Japanese companies overseas show that 42.4% of Japanese companies in their overseas operations responded that they are already working on decarbonization, an increase of 8.5 percentage points from the previous survey results in FY2021 (33.9%). While Japanese companies are making progress in this area, many are also facing a number of challenges. Among Japanese companies, regardless of country or region, several common challenges to decarbonization efforts remain: the lack of awareness among employees to save energy and reduce emissions, increased costs associated with converting energy and materials (renewable energy requires significant upfront investment), and a lack of supply chain in the company’s location.
【VIEW】
https://www.jetro.go.jp/biz/areareports/2022/066690ab476b93ef.html
【Energy Transition】Tokyo’s solar panel mandate a major shift in a country where fossil fuels reign
The Tokyo Metropolitan Government is attempting to convert more of the city’s energy sources to local sources, as Tokyo intends to move away from its long-standing dependence on other regions and its reliance on fossil fuels and meet the massive energy needs of the metropolis of 14 million people in a whole new way. To that end, Tokyo is planning to make the installation of rooftop solar panels on new homes and buildings compulsory from April 2025 as it pushes its people and businesses to shift to renewable energy.
【VIEW】
https://www.japantimes.co.jp/news/2022/12/18/national/tokyo-solar-mandate-shift/
【Carbon Credit】Purchasing carbon credits from Vietnam difficult without clear legal frameworks
Pham Thu Thuy, director of the Climate Change, Energy, and Low-Carbon Development team at the Center for International Forestry Research and World Agroforestry, said there are several energy companies, finance, and banking institutions and other foreign entities that would like to purchase carbon credits in Vietnam, but are hesitant to do so due to a lack of a clear legal framework. A business would need a coordinating entity from the Vietnamese government to provide instructions if it wants to enter Vietnam as a carbon credit market. However, Vietnam does not have a system for registering for carbon rights, nor a list of carbon-related projects for businesses to examine. Nguyen Van Minh from the Ministry of Natural Resources and Environment said that by 2027, Vietnam’s Ministry of Environment will work with the Ministry of Finance to develop policies on establishing a floor for the exchange of carbon credits and carbon emission allowances.
【Green Transition】Facing headwinds at home, Europe and Japan are pushing waste-to-energy technology across South East Asia
There are more than 100 waste-to-energy projects recently constructed, being built or planned in the Philippines, Indonesia, and Thailand that often involve European or Japanese companies. But they are attracting local opposition over their green credentials. In Thailand and two other key markets, Indonesia and the Philippines, there is active pushback from local communities and environmentalists, who fear that incineration could lead to increased pollution, harm local communities, and perpetuate the production of fossil fuel-based single-use plastics as fuel for the plant.
【Blue Finance】Urchin farming company gets world first blue carbon credit for kelp
Sea urchin aquaculture company Urchinomics has secured the world’s first voluntary blue carbon credit for kelp-bed restoration. On 21 November, the Japan Blue Economy Association (JBE), the Japanese state-appointed research institute tasked with establishing blue carbon credit standards, validated the science and certified the voluntary blue carbon credit. Urchinomics CEO and Founder Brian Tsuyoshi Takeda said the science of kelp that was initially left out of the blue carbon discussion has come sufficiently far that it was recognized to satisfy voluntary blue carbon credit levels of certainty. Blue carbon is often seen as a higher-quality carbon credit, as ocean-based ecosystems like kelp forests contribute not just to carbon sequestration, but to a host of other co-benefits like biodiversity, oxygen production, absorption of excess nitrogen from agricultural runoff, reduced ocean acidification, and protection from wave-related erosion
Other resources
Carbon Credit Report
Certification of carbon removals – European Parliament
Carbon Footprint Report2022 – JICPA
Events
Upcoming Events
January 13th Webinar Building Infrastructure for the Transportation of Tomorrow
January 13th Webinar Making Sustainability a Successful Strategic IT Initiative
Recordings
December 21st CCL Training: An Introduction To Carbon Pricing
【DETAIL】
https://vimeo.com/783163814
December 20th Is Geoengineering the Answer to Climate Crisis?
【DETAIL】
https://vimeo.com/782768501
December 20th Decarbonizing Global Maritime Shipping
【DETAIL】
https://vimeo.com/782704916