Long-Term Strategy Under The Paris Agreement Japan

In order to achieve the energy transition, the important long-term government, based on the „5th Energy Strategic Plan,“ is required to improve the predictability of energy supply and demand and to improve an environment conducive to private investment by immediately conducting cost-risk analyses within „energy systems“ and „scientific audits“ for the flexible definition and revision of priority issues, while identifying the progress and feasibility of technological innovations and indicating the overall vision of sustainable energy and energy systems for the future, including clarifying the responsibilities and standards of key stakeholders. As mentioned above, Japan`s „global warming plan“ has already set an ambitious target of „80% reduction by 2050. In addition, Japanese companies and organizations have formulated their own „long-term vision,“ which is ready to meet the challenge of developing and disseminating a wide range of innovative technologies. As part of this plan, Japan will encourage the achievement of drastic energy efficiency. The government should do everything in its power to reflect as much as possible the ideas presented in the „long-term vision“ of these companies and organizations in Japan`s long-term strategy and to support the proactive challenges of innovation by businesses and organizations, including improving the business and investment environment. In order to maximize the vitality of businesses as key players in innovation, while preserving and strengthening research and development and private sector investment resources, the government should focus on improving the investment and business environment through measures, including regulatory and institutional reforms in the public-private partnership 5. There is also a need for unwavering support measures that encourage the efforts of companies from the first production of demand to the guarantee of international competitiveness. In addition, strong and ongoing measures are needed to complement risks that cannot be borne by the private sector alone. Given the expansion of esg investments around the world, it is also important to ensure that companies that are actively involved in innovation are valued and that funds are made available to these companies.

The most recent document highlights ways to meet the commitments made under the 2015 Paris Agreement to cushion the rise in global temperatures below 1.5 to 2 degrees Celsius. On the other hand, in Japan, the investments needed to encourage the energy transition are not sufficiently distributed to the electricity and heat sectors. Without the current situation, it will be difficult to achieve a significant long-term reduction (decarbonization) in the long term and the disruptions in energy supply on which people`s lives and activities are based.