Japan aims to increase the size of its domestic circular economy, which focuses on reducing carbon emissions by reusing products and resources, to 80 trillion yen ($583.7 billion) by 2030, government sources said.
The move to boost its circular economy, which is currently worth 50 trillion yen and aims to promote sustainable economic practices through the reuse and recycling of goods and materials, comes as Prime Minister Fumio Kishida’s government ramps up efforts to achieve a carbon-neutral society by 2050 .
File photo of factories in an industrial belt in Ichihara, Chiba Prefecture, in May 2007. (Kyodo)
Initiatives include recycling raw materials and distributing used goods, which aim to reduce carbon emissions, a major contributor to global warming, the sources said.
New businesses emerging from the circular economy include apps that allow individuals to sell used goods and monthly subscription services for clothing rentals.
The Ministry of the Environment plans to apply for the associated costs in the government’s initial budget for fiscal year 2023, and the Ministry will provide a timeline for the project in the near future.
According to the sources, the schedule calls for doubling the amount of recycling of scrap electronics substrates and scrap batteries — parts of used small household appliances — to make precious and rare metals more sustainable.
Demand for lithium and other rare metals, needed for batteries in electric vehicles, is rising as countries phase out gas-powered cars.
To that end, the ministry will seek to encourage imports of household appliances from countries including Southeast Asia, a region that lacks the technology to recycle products for rare metals and other resources.
The ministry’s planned budget request also includes financial aid for investments by Japanese companies.
The schedule includes actions to deal with solar panels that are expected to reach end of life in the late 2030s.
She will also call for legal action to encourage the reuse and recycling of solar panels that have covered much of Japan since the March 2011 earthquake that shook northeastern Japan and the ensuing meltdown at a Fukushima nuclear power plant.
The ministry will seek to secure funds in the FY2023 budget to demonstrate recycling technology that would curb carbon emissions.
In addition, the schedule will include plans to review mass production and consumption of clothing, as well as targets to encourage reuse, repair and other sustainable uses of clothing.
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