Japan aims to expand the size of the circular economy to 80 trillion. Yen by 2030

Government sources say Japan plans to scale its domestic circular economy to 80 trillion yen ($583.7 billion) by 2030, with a focus on reducing carbon emissions through the reuse of products and resources. We aim to expand.

The move to promote a circular economy, currently worth ¥50 trillion and aimed at promoting sustainable economic practices through the reuse and recycling of goods and materials, is a move by Prime Minister Fumio Kishida’s government to achieve It happens when we are stepping up our efforts to achieve a carbon-neutral society.

File photo of a factory in the industrial area of ​​Ichihara City, Chiba Prefecture, May 2007 (joint)

The initiative will include recycling raw materials and distributing used goods, with the aim of reducing carbon dioxide emissions, a major contributor to global warming, sources said.

New businesses emerging from the circular economy include apps that allow individuals to sell second-hand goods and monthly subscription services for clothing rentals.

The Ministry of the Environment will request the relevant costs in the government’s initial budget for 2023, and the Ministry of the Environment will prepare a timetable for the project in the near future.

According to officials, the timetable includes a plan to double the amount of recycled electronic substrates and batteries used in used small home appliances in order to sustainably use precious metals and rare metals.

As countries phase out gasoline vehicles, demand for lithium and other rare metals needed in electric vehicle batteries is soaring.

Promote the import of waste home appliances from Southeast Asia and other countries where recycling technology for rare metals is scarce.

The Ministry of Internal Affairs and Communications’ budget request also includes financial support for capital investment by Japanese companies.

The timetable describes measures to be taken for solar panels expected to reach the end of their life in the late 2030s.

Also, legislation to promote the reuse and recycling of solar panels has come to cover large parts of Japan since the March 2011 earthquake that hit the Tohoku region and the subsequent meltdown of the Fukushima nuclear power plant. We also call for the establishment of legal measures.

The budget for fiscal 2011 aims to secure funds for demonstrating recycling technology that will lead to the reduction of CO2 emissions.

In addition, the timetable includes plans to review the mass production and consumption of clothing, and goals to promote reuse, repair and other sustainable use of clothing.

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