According to The Asahi Shimbun, the Japanese material industry will need an estimated 24 trillion yen (US$187 billion) in investments to reduce its greenhouse gas emissions to net zero by 2050, according to the ministry of trade and industry.
The ministry presented the figure at a meeting of the Industrial Structure Council, the ministry’s advisory body.
The cost could rise since it is based on data compiled from each sector’s current estimates on what is needed to go carbon free by 2050, the target year for the government to achieve net zero carbon dioxide (CO2) emissions.
Carbon capture and storage (CCS), a technology for collecting CO2 and storing it underground, is included in the estimated cost.
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