March 24, 2022
The Ministry of Economy, Trade and Industry (METI) formulates sector-specific technology roadmaps for the transition to decarbonization, with the aim of promoting climate transition finance. It has now compiled one for the cement and paper/pulp sectors.
In order to become carbon neutral by 2050, funding for transitions toward steady decarbonization (such as energy conservation and energy transition) will also be essential in addition to initiatives like renewable energy that are already at the decarbonization level.
METI worked together with the Ministry of the Environment (MOE) and the Financial Services Agency (FSA) to formulate the "Basic Guidelines on Climate Transition Finance" (hereinafter referred to as the Basic Guidelines) in May 2021. The guidelines organize the basic concepts for funding under the name "Transition Bonds/Loans."
METI has held meetings of the Taskforce for Formulating Roadmaps for Promoting Transition Finance in the Economy and Industry (chaired by Akimoto Keigo, Group Leader, Systems Analysis Group, Research Institute of Innovative Technology for the Earth [RITE]) to concretely point the way to transition so that industries with large CO2 emissions will be carbon neutral by 2050. Following the technology roadmap for transition finance in the steel, chemical, electric power, gas, and oil sectors, it has now also formulated one for the cement and paper/pulp sectors.
This roadmap shows the most promising technologies for making Japan carbon neutral by 2050, basing its choices on scientific grounds. These technologies include future innovative technologies as well as tried-and-true low-carbon technologies that are available now (such as energy conservation and energy transition). The roadmap refers to domestic policies and international scenarios and presents the technologies with background information and timeframes.
This roadmap should be referred to by companies when considering climate measures that use transition finance. It will also help financial institutions decide whether a company's strategies and efforts toward decarbonization are eligible for transition finance when it approaches them for funding.
- Technology Roadmap for Transition Finance in the Cement Sector (in Japanese)(PDF:3,768KB)
- Technology Roadmap for Transition Finance in the Paper/Pulp Sector (in Japanese)(PDF:2,186KB)
- "Basic Guidelines on Climate Transition Finance" Announced (May 7, 2021)
- Basic Guidelines on Climate Transition Finance (May 2021)(PDF:3,199KB)
- Basic Guidelines on Climate Transition Finance (Overview) (May 2021)(PDF:538KB)
Division in Charge
Transition Finance in general:Environmental Economy Office, Industrial Science and Technology Policy and Environment Bureau
Roadmap for the cement sectorMaterial Industries Division, Manufacturing Industries Bureau
Roadmap for the paper/pulp sectorMaterial Industries Division, Manufacturing Industries Bureau