Greenwashing on the Agenda at Japan Energy Summit 2024

The Japan Energy Summit, held recently, included sessions on pioneering innovative energy technologies and accelerating decarbonisation in its agenda. Unfortunately, these sessions pushed fossil fuel narratives instead.

Japanese Megabank MUFG Continues to Bankroll Fossil Fuel Development

Global financial institutions are still funding fossil fuel projects despite warnings over climate change. Japanese megabanks, for their part, continue to top the list. Mitsubishi UFJ Financial Group (MUFG), Mizuho and Sumitomo Mitsui Financial Group (SMBC Group) ranked among the 10 worst in fossil fuel funding in 2023.

Does Japan Care About the Environment

Japan's role as a member of G7 is pushing its subpar environmental performance into the spotlight. Inadequate emissions reduction goals, a high rate of fossil fuel imports and questionable fishing practices highlight this. These concerns will only grow more dire for the climate-vulnerable country and must be addressed.

Wind Energy in Japan: Prospects, Benefits and Future

While Japan’s government increasingly considers wind energy a viable option, the progress is still sluggish. Accelerating it requires addressing various administrative burdens and introducing more ambitious policies.

The Climate Leadership of the G7 Now Hangs on Japan

Without ensuring that all members share the same views regarding the energy transition, the G7 will have difficulty leading global climate policy. Convincing Japan of the urgency of phasing fossil fuels out and accelerating clean energy adoption is integral before the G20 and COP29 meetings later this year.

Potential of Renewable Energy in Japan

Japan's road towards renewable energy dominance in the country's mix won't be smooth, it is feasible and will unlock several energy investment opportunities.

The Issue with Japan’s ESG Reporting

Japan has been struggling to catch up with the EU and the US in corporate ESG reporting standards. Progress is being made, but several problems still need to be addressed, including an over-reliance on fossil fuels in its power generation mix and a governance problem that seems hard to address.

Is Steel Bad For The Environment? A Look At Nippon Steel

The vast majority of Japanese steel is produced with coal blast furnaces. This does not align with domestic or international decarbonisation goals. As the market leader of Japan's steel industry, Nippon Steel needs to reassess its decarbonisation strategy. It currently falls short with ongoing coal investments and reliance on untested low-carbon production technology.

Japan’s Offshore Wind Revolution

Surrounded by windy oceans, Japan has tremendous offshore wind potential. For Japan to reach its 2040 offshore wind target, it would need 22,500 wind farms the size of Goto City’s. If the amendments in parliament are passed, Japanese wind manufacturers can export their technology to wind markets abroad. In that case, Japan will have no reason to continue its false solutions of ammonia co-firing and fossil fuel investments.

Japan’s Steel Industry: A Laggard For Decarbonisation

Japan's steel industry is one of the country's largest economic powerhouses, significantly influencing the global steel market. However, the industry's decarbonisation goals fail to align with the country's targets, which are already considered inadequate compared to its peers. A reassessment of the industry's goals and associated policies is necessary.

Environmental Pollution in Japan – Impacts and Future

Pollution is a global issue that all countries are working to tackle, and Japan is no different. Japan has a long history of pollution-related health impacts and subsequent regulatory reforms. However, ongoing pollution is still a significant concern that needs to be addressed.

Japanese Banks Pour Billions Into Fossil Fuel Industry

Analysts warn that the continued fossil fuel support from the Japanese financial industry, showcased by the actions of various banks, insurance companies, asset owners and asset managers, is enabled by loose policies or loopholes. Fixing them is critical for addressing the climate crisis.

Fossil Fuels Dominate Japan Energy Sources

Japan sources the overwhelming majority of its energy and electricity from fossil fuels. However, the country's domestic fossil fuel reserves are minimal. As a result, Japan imports most of its energy, placing its energy security in a precarious position.

The Environmental and Climate Impacts of False Solutions on Japan

Japan is the leading proponent of the mass adoption of ammonia co-firing and CCS technologies for power generation domestically and across Asia. However, scientists warn that such steps will not only fail to reduce emissions but could also result in adverse impacts, including air pollution, water contamination and ecosystem degradation.

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