Japan aims to expand the scale of its circular economy to 80 trillion yen by 2030 to achieve its goal of zero emissions by 2050.
Currently, the volume is around 50 trillion yen (about 364 billion euros). The expansion plan is one of many steps to make Japan carbon neutral.
Expansion of circular economy focused on recycling and reuse
The expansion of the circular economy should focus on the recycling of raw materials and the distribution of used products, thus reducing emissions of carbon dioxide, one of the main contributors to climate change.
Japan’s environment ministry plans to request the cost in the government’s first budget for fiscal year 2023 and develop a plan for the various expansion phases in the near future.
Among other things, the plan should include doubling the amount of recycling of electronic substrates and old batteries so that precious and rare metals can be used sustainably.
Demand for lithium and other rare metals, which are used in electric vehicle batteries, is growing rapidly as countries switch to gasoline-powered vehicles.
To this end, the ministry will seek to encourage imports of used equipment from countries such as Southeast Asia, a region that lacks the technology to recycle products to extract rare metals and other resources. .
Promoting investment from Japanese companies
The planned budgetary application for the expansion of the circular economy also includes financial support for investments by Japanese companies. The timeline includes steps to phase out solar cells that are expected to reach their end of life in the late 2030s.
It aims to introduce legal measures to encourage the reuse and recycling of solar panels, which became widespread after the March 2011 earthquake that shook northeast Japan and at a nuclear power plant in Fukushima, Japan. after the recession.
The ministry will try to provide funds to test recycling technologies in the 2023 budget that will reduce CO₂ emissions.
The timeline will also include plans to examine the mass production and consumption of clothing and goals to encourage reuse, repair and other sustainable uses of clothing.