Tokyo Metropolitan Government to accelerate decarbonization measures / Establishment of 10 Billion Yen fund in FY2025
The Tokyo metropolitan government will establish the GX innovation promotion support fund (tentative name) in FY2025 through public–private collaboration to accelerate decarbonization measures. The fund is expected to total 10 billion yen, with the Tokyo metropolitan government planning to contribute up to 5 billion yen. The fund will target investments in startups with technologies in fields such as nuclear fusion power generation, next-generation solar cells, and offshore wind power, with the aim of advancing carbon neutrality. This initiative was included as a new item in the draft budget for FY2025, released by the Tokyo metropolitan government on January 31.
The total amount of the draft budget is 9.158 trillion yen, an 8.3% increase from the initial budget for FY2024. Of this amount, 301.1 billion yen is allocated to the “realization of a zero-emission Tokyo” as part of the city’s decarbonization efforts. The Tokyo metropolitan government will strengthen measures to promote the introduction of renewable energy sources such as floating offshore wind power, the social implementation of hydrogen energy, and the spread of energy-efficient housing.