JCLP urges Prime Minister Kishida to accelerate the expansion of renewable energy and introduce carbon pricing to overcome climate crisis

2022.4.6

 

JCLP urges Prime Minister Kishida to accelerate

the expansion of renewable energy and introduce

carbon pricing to overcome climate crisis

 

 

Tokyo, Japan, April 6, 2022 – Japan Climate Leaders’ Partnership (JCLP), a coalition of 206 companies committed to climate action, held a dialogue with the Prime Minister Kishida and submitted the “Statement: Overcoming the Climate Crisis through the New Capitalism”.

 

 

   The participants of the dialogue (left to right)
   Soichi Hosoi, Executive Vice President, Fuyo General Lease Co., Ltd.
   Kahori Miyake, Director, ESG Planning and Promotion Department, Sumitomo Mitsui Trust Bank, Limited
   Yoshinori Yamashita, President and CEO, Ricoh Company, Ltd.
   Fumio Kishida, the Prime Minister of Japan
   Masanori Imai, Chairperson and Representative Director, Toda Corporation
   Masato Iwasaki, Representative Director and Member of the Takeda Board, Japan General Affairs, Takeda Pharmaceutical Company Limited

 

 

The New Capitalism is the Prime Minister Kishida’s vision to achieve a capitalism that will create a virtuous cycle of economic growth and distribution. The development of its ‘Grand Design’, a blueprint for achieving the vision, is currently underway.

 

JCLP, in the statement, warns that climate change is nothing less than a ‘crisis’ that could trigger various catastrophes if left unaddressed. The Prime Minister has mentioned on various occasions that climate crisis is the biggest challenge that needs to be addressed through realization of the New Capitalism.

 

To this end, the coalition urged that the Grand Design should be drawn up in line with the 1.5°C target and include the following points:  

 

1.Expansion of renewable energy holds the key to balancing economic growth and a fairer distribution of wealth. JCLP calls for a new energy system based on the ‘Renewables-first principle’. In particular,

  • Upgrading the power grid system
  • Expanding the off-shore wind power industry at a faster pace
  • Improving access to farmlands

 

2.The New Capitalism should incorporate a carbon pricing mechanism that will enable the market to account for and reduce negative externalities. More specifically,

  • A carbon tax and/or emissions trading scheme, which provide major emitters with an appropriate emissions reduction incentive, while preventing excessive burdens on SMEs and low-income households
  • Measures to inform the public well about its purposes and effects
  • Directing the revenues to the development of infrastructure and installation of technologies that will help substantial emissions reduction by 2030, and to human capital development programs to ensure a just transition

 

Prime Minister Kishida gave the coalition his strong words of encouragement, saying, “The statement is duly received and I hope that JCLP will continue to cooperate with the government in public engagement and other areas of action.”

 

 

Download the full statement here.

Press Release