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Welcome to the SDGs in the News Podcast. This is Susan Yoshimura, Managing Editor of Japan 2 Earth,
coming to you from Tokyo. Today, we bring you another English article on Japan and the SDGs.
You can find the full text on our website. Just click the link in the episode notes. Have a listen.
GX Nuclear Power to Play a Key Role in New Green Transformation Roadmap
Major shifts in industrial and energy policy are part of a new 10-year roadmap to realize GX,
including extended operation of existing nuclear power plants. On December 22,
the Kishida administration held a meeting of the Green Transformation
GX Implementation Council to deliberate the path to transitioning to a decarbonized society.
The council hammered out basic policy, creating a roadmap for the next 10 years toward the
realization of GX. The policy has two pillars. The first involves measures to ensure a stable
energy supply in the immediate future, including the establishment of a new rule that would allow
nuclear power plants to operate beyond 60 years. The second is the introduction of carbon pricing
pricing, CP, that would require companies to pay for their CO2 emissions.
Both are aimed at a major shift in Japan's industrial and energy policies.
Prime Minister Kishida indicated that the administration would continue to review and
maintain flexibility in its approach. He stated, GX requires a major transformation of the economy
and society overall. The situation will change alongside technological progress and the various
efforts of other countries. After soliciting opinions from the public, a cabinet decision
will be made. Subsequently, a draft amendment to the Nuclear Reactor Regulation Act and other
related laws will be presented at an ordinary diet session next year. The roadmap clearly
states that nuclear power will play an important role in achieving both a stable energy supply and
decarbonization. According to the roadmap, rules governing the length of operation of nuclear
reactors, which currently stand at 40 years in principle and 60 years maximum,
will be changed to allow for extended operation past 60 years.
The aim is to maximize the use of existing nuclear power plants. Likewise, the period of
time during which nuclear power plants were shut down after the accident at Tepco's Fukushima
Daiichi nuclear power plant will be excluded. To ensure the sustainable use of nuclear energy,
the plan also includes policy on rebuilding plants that are due for decommissioning,
replacing them with next-generation nuclear power plants.
The other pillar, carbon pricing, will involve the phased introduction of two mechanisms
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beginning in 2026. The first is a levy that importers of fossil fuels, such as electric
power companies and oil wholesalers, will pay in proportion to the volume of fossil fuels handled.
The other is an emissions trading scheme that will allow companies to buy and sell emissions
reductions. The government has announced its goal to achieve net zero greenhouse gas emissions by
2050. It estimates that a total of 150 trillion Japanese yen in public and private investment will
be required over the next 10 years to achieve this goal. Private sector investment will be
encouraged by issuing 20 trillion Japanese yen in GX bonds using funds obtained from carbon pricing
to finance reimbursements. The Kishida administration sees GX as a good opportunity
not only to decarbonize but also to put the Japanese economy back on a growth trajectory.
It remains to be seen if it can achieve a balance between decarbonization and economic growth.
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until next time this is susan yoshimura of japan to earth signing off
