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Japan urges to move forward with ‘green’ GDP indicator – draft

A woman walks past a shopping area, amid the coronavirus disease (COVID-19) pandemic in Tokyo, Japan August 17, 2020. REUTERS/Kim Kyung-Hoon/Files

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TOKYO, May 26 (Reuters) – Japan plans to move forward with a new “green” gross domestic product (GDP) indicator that will reflect the country’s progress in reducing greenhouse gas emissions, a draft of its annual economic policy plan seen by Reuters showed.

The government will make mention of continuing the safe restart of nuclear power plants, the draft long-term policy plan showed.

Tokyo has pledged to cut its carbon emissions by 46% by 2030 from 2013 levels, for which it must make a massive decarbonization effort.

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The draft policy will call for the expansion of electric car battery production and the construction of more charging stations, as well as the establishment of more hydrogen stations.

The government is seeking to achieve the goal of having electric vehicles account for all new car sales by 2035, according to the plan.

The outline of government policy will be the first to be compiled under Prime Minister Fumio Kishida and will serve as the basis for future economic policy making. It is expected to be finalized after cabinet approval early next month.

Last week, Kishida outlined a plan to issue about 20 trillion yen ($157 billion) in “green transition” bonds to help fund investments aimed at achieving a carbon-neutral society. Read more

Japan’s prime minister said the country would need at least 150 trillion yen in combined private and public investment over the next decade to achieve a carbon-neutral society.

($1 = 127.4600 yen)

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Reporting by Takaya Yamaguchi; Written by Daniel Leussink; Editing by Sam Holmes

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