Green Innovation Fund

1. Outline                                 

Toward the goal of achieving carbon neutrality by 2050, METI has established a Green Innovation Fund at the level of 2 trillion yen under the FY2020 Tertiary Supplementary Budget and decided to assign the New Energy and Industrial Technology Development Organization (NEDO) to its operation. In this fund, the government is providing continuous support to companies and other organizations which are committed to taking on the challenge of ambitious targets for 2030 shared by the public and private sectors, from R&D through to demonstration to social implementation over the next 10 years. These target areas where policy effects are significant, and long-term continuous support is required to realize public implementation, from among the priority fields for which implementation plans have been formulated within the Green Growth Strategy, which is a set of industrial policies to create a “virtuous cycle of the economy and the environment.”

2. The Basic Policies for the Green Innovation Fund        

The Basic Policies stipulate the policies for implementation of the fund, which are commonly applied to the respective R&D projects, including the target companies for support measures under the fund, the frameworks for maximizing the outcomes of the fund and the system for operating the fund. The Basic Policy has been formulated through the discussions at the Green Innovation Project Subcommittee of the Industrial Structure Council. METI, NEDO and other related organizations operate the fund in accordance with these policies.

Main Matters 

3. List of projects organized by the Green Innovation Fund      

In order to ensure proper and efficient execution of the fund, the Green Innovation Project Committee has formulated the Fund Allocation Policy. Based on this policy, field-specific working groups established under the Committee deliberate on issues such as the priority, contents and appropriateness of the amount to be implemented by the fund for each project. Then, the divisions and offices in charge of the projects at the responsible ministries and agencies formulate the content and amount of each project as an “R&D and Social Implementation Plan,” and start calls for applicants.
・Fund Allocation Policy (Revision on 18 March, 2022)

Link to related information  

Division in Charge

Carbon Neutral Action Plan Promotion Office, Environmental Policy Division, Industrial Science and Technology Policy and Environment Bureau

Last updated:2023-02-03