The Japanese Government has agreed on a new plan to raise JPY15,000bn (US$107bn) of both private and public funding for the development of its hydrogen supply until 2040. Under the approved revised Basic Hydrogen Strategy, Japan plans to increase its hydrogen supply sixfold, from 2 Mt/year currently to around 12 Mt/year by 2040. The strategy also sets an intermediate target of 3 Mt/year by 2030 and a further target of 20 Mt/year by 2050.
With this plan, Japan hopes to increase the use of hydrogen as fuel, in a bid to reduce the country’s greenhouse gas (GHG) emissions, and encourage companies to get more actively involved in hydrogen initiatives. Japan also hopes to achieve the commercialisation of hydrogen power generation by 2030. Japan is ultimately aiming for net zero greenhouse gas emissions by 2050.
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