J-Credit to cover hydrogen
On 14th May, the Ministry of Economy, Trade and Industry(METI) and the Ministry of Environment(MOE) announced at the joint panel of experts that they indicated the policy to add new carbon dioxide(CO2) reduction technologies such as hydrogen, ammonia and CCUS (CO2 capture, utilize and storage) to J-Credit. METI and MOE will incorporate new technologies such as hydrogen, which will be expanded for introduction in future, to meet the increasing demand for credits. Although the J-Credit system is until FY2030, METI and MOE declared to continue permanently in response to the needs of the private sector for 2050 carbon neutrality.
On the same day, the Central Council of Environment (an advisory body of the Minister of Environment) and the Council of Industrial Structure (an advisory body of the Minister of Economy, Trade and Industry) held the joint meeting to revise the Global Warming Countermeasures Plan, and the executive office presented the measures to revitalize J-Credit.