On Wednesday, November 18, 2020, the CEOs of Nissay Asset Management, Kao, Ricoh, and Sony, all members of the Japan Climate Initiative (JCI), had a meeting with Taro Kono, Minister for Administrative Reform & Regulatory Reform, to discuss regulatory reforms that will expand renewable energy.[1] During the meeting, JCI representative, Takejiro Sueyoshi, presented a proposal for regulatory reform on renewable energy expansion. According to the CEOs, about half of the energy used at European locations have already been switched to renewable energy, but in Japan, the companies cannot procure renewable energy as expected and therefore their renewable energy usage remains around 1%. Additionally, the companies’ customers are increasingly requiring that their products be made with 100% renewable energy. For example, Apple, a major customer of Sony, is calling for its manufacturing partners to switch to 100% renewables by 2030, but there is only limited renewable energy supply in the factory location. The companies acknowledged that if companies in Japan collaborate, it would be possible to accelerate the development of new technologies for decarbonization. It was also emphasized that the investment risk of renewable energy can be reduced with clear indication of Japanese government’s long-term energy policy. The CEOs requested Japan’s energy mix target of renewable energy by 2030 be set at 40% or more.

[1] https://japanclimate.org/english/news-topics/re-expansion-topleader/