Japan may create up to $19 billion fund to promote green investment: sources By Reuters



By Yoshifumi Takemoto and Kaori Kaneko

TOKYO (Reuters) – Japan’s government is considering creating a 1 trillion to 2 trillion yen ($9.63 billion to $19.27 billion) fund to promote investment in environment-friendlier areas, three government officials with direct knowledge of the matter told Reuters.

The fund will be part of the government’s third stimulus package to be compiled next week, which will also consist of measures to prevent the spread of the novel coronavirus and spending for disaster-proof infrastructure, the officials said.

It is one of several funds the government is considering creating, with targets including technical development in battery storage and carbon emission reduction, the officials said.

Prime Minister Yoshihide Suga has pledged to make green investment a pillar of his policy agenda as Japan aims to cut greenhouse gas emissions to net zero by 2050.

To that end, Japan may ban sales of new gasoline-engine cars by the mid-2030s in favour of hybrid or electric vehicles, public broadcaster NHK reported on Thursday.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here