Opinion: G-7 summit is Kishida's best chance to move Japan to green steel

The G-7 summit in Japan presents a unique opportunity for Prime Minister Fumio Kishida to position Japan as a leader in the green steel market. The steel industry is becoming a core element of the world's trade and sustainability transformation, but its emissions remain a significant contributor to global carbon emissions. Kishida can use his influence as host to shape a collaborative agreement on steel decarbonization and ensure that the world's biggest steel markets make clear commitments to green steel production. With its innovative manufacturing capacity, Japan can play a vital global role in achieving the emissions reductions necessary to meet targets set under the 2015 Paris climate agreement. However, for Japan to remain at the leading edge of industrial innovation and at the center of a market-driven transition toward green steel, it must rapidly expand and integrate renewables and electric arc furnaces across its steel industry.

Resource: https://asia.nikkei.com/Opinion/G-7-summit-is-Kishida-s-best-chance-to-move-Japan-to-green-steel

Author: Kenta Kubokawa, April 2013