On December 12, 2019, Keidanren (also known as the Japan Business Federation), in cooperation with the Japanese Government, announced the launch of the Challenge Zero Initiative. The Initiative will support innovations to build a zero-carbon society; promote Environmental, Social, and Governance (ESG) investments; and facilitate collaboration among the private sector, government, and academic institutions.

Keidanren is an economic organization that represents a membership comprised of 1,376 domestic companies, 109 nationwide industrial associations, and 47 of Japan’s regional economic organizations.[1]

The launch of the Challenge Zero Initiative was driven by the Japan's Long-term Strategy under the Paris Agreement, issued by the Japanese Cabinet in June 2019, which declared that Japan would seek to become a “decarbonized society” by 2050.[2] Keidanren has noted that since the Long-term Strategy under the Paris Agreement was issued, the Japanese business community has realized that more concrete and ambitious actions would be needed to create innovation in order to pursue a low-carbon society.

The Challenge Zero Initiative asks participating companies and organizations to commit to one or more of the goals set by the Initiative and to report their activities to achieve their commitments. The goals include promoting disruptive innovation for net-zero-carbon technologies, demonstrating and deploying those technologies; and financing companies that make low-carbon commitments. Keidanren plans to provide more detailed information on the Challenge Zero Initiative to member companies and organizations soon.[3] [4]

[1] https://www.keidanren.or.jp/profile/pro001.html

[2] https://www.env.go.jp/press/106869.html

[3] https://www.keidanren.or.jp/journal/times/2019/1212_02.html

[4] https://www.keidanren.or.jp/policy/2019/109.pdf