Japan’s industry minister takes on additional role as Green Transformation minister

TOKYO (REUTERS) – Japan’s industry minister Koichi Hagiuda has taken on the additional role as Green Transformation minister, leading the country’s commitment to achieve carbon neutrality by 2050, the government’s spokesman said on Wednesday (July 27).

“Minister Hagiuda is expected to manage administrative processes to realise the transformation of Japan’s economy, society and industrial structure based on clean energy… while the stable supply and security of energy resources remain a major principle,” Deputy Chief Cabinet Secretary Seiji Kihara told a regular news conference.

The government holds the first meeting of a council in charge of planning “Green Transformation” policies on Wednesday, where the roadmap of investments for it over the next 10 years will be among topics discussed, Mr Kihara told reporters.

In May, Japanese Prime Minister Fumio Kishida announced a plan to issue an estimated 20 trillion yen (S$203 billion) worth of “green transition” bonds to accelerate the country’s shift to alternative energy sources amid the heightened energy risks after Russia’s invasion of Ukraine.