Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 32 n° 15

Japan’s coal renaissance poses serious risks to businesses and investors

Posted by fidest press agency su martedì, 29 maggio 2018

Tokyo, Japan Japan’s current coal-fired power policies and plans would result in carbon pollution between now and 2050 almost three times what is consistent with the Paris Agreement, risking stranded assets and loss of competitiveness for Japanese investors, says a new report by Climate Analytics, in collaboration with the Renewable Energy Institute of Japan.Unlike most developed countries, Japan plans to increase its coal-fired power capacity, and its banks are financing coal developments in other countries, especially in South East Asia, in contradiction of the deep emissions reductions required to curb climate change. Japan already has 45 Gigawatts of operating coal-fired generation capacity and plans to add about 18GW of new coal, of which 5GW are already under construction.The report evaluates whether Japan’s energy policies and long-term targets are compatible with meeting the objectives of the Paris Agreement, and what this means for policymaking and investors.In Japan – the sixth largest global greenhouse gas emitter – electricity generation is responsible for around 40% of its GHG emissions. In 2016, more than half of these came from coal (about 20% of total emissions), making it a major contributor to climate change.“To be in line with the Paris Agreement, developed countries need to phase out coal from their energy systems by 2030, yet Japan appears to be going in the opposite direction,” says lead author Paola Yanguas Parra from Climate Analytics. “If Japan’s emissions trajectory from its current energy and investment plans for coal were to continue, it would overshoot its Paris Agreement emissions budget for coal in the electricity sector by 292% by 2050. It’s clear from our analysis that Japan’s primary focus for achieving its national commitments – and the Paris Agreement goals – should be to urgently address emissions from coal.”Japan’s Paris pledge is inadequate in meeting the Paris Agreement goals, foreseeing a 26% share of coal but only a 22-24% share of renewables by 2030. It also includes a 20-22% share of nuclear, which has been challenged by other studies that suggest a more realistic share is a maximum of 10%.“The Fukushima disaster revealed that Japan’s climate policy to rely on nuclear power was a failure – nor will efficiency standards for coal bring the necessary emissions reductions. Japan needs a much higher renewable energy target, and increasing numbers of companies are demanding renewable energy,” said Yuri Okubo, of the Renewable Energy Institute.


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