TOKYO - Prime Minister Yoshihide Suga on Monday is set to bind Japan to a target for carbon neutrality by 2050, a shift in stance that will bring the country in line with the European Union and more than 60 other nations in efforts to combat climate change.
The move, if confirmed, would make the world's third-largest economy the second Asian country after South Korea to aim for the 2050 target that is considered the minimum needed to keep global average temperatures from rising by more than 1.5 Celsius. But investors say the apparent change in position is at odds with the country's plans to roll out new coal stations.
"Japan's solar and wind power potential is huge and Prime Minister Suga has the opportunity to accelerate this and embrace a modern and coal-free energy system," he added.