MOE Establishes a Regional Green New Deal Fund

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Japan's Ministry of the Environment (MOE) announced a Japanese version of the Green New Deal concept on April 20, 2009. The idea includes establishing regional Green New Deal funds across the country to promote countermeasures against global warming and to create local employment opportunities.

With the revision of the Law Concerning the Promotion of Measures to Cope with Global Warming, regions must design plans to reduce carbon dioxide (CO2) emissions. However, local governments need to implement further environmental measures despite the difficult fiscal circumstances. This fund will support quality initiatives throughout the country, such as regional plans based on the law.

The fund is 55 billion yen (about US$ 567 million) in total, which will expand funds for regional environmental conservation activities. Each prefecture and designated cities will carry out their planned projects, and will be able to utilize the fund for a period of three years.

The following types of projects will be eligible for funding: development of energy-saving homes, environmentally friendly traffic systems and energy infrastructure projects, improvement of disposal systems for waste which contains asbestos, unauthorized dumping and low-concentration PCB waste, improvement of collecting system for drift waste, and installation of solar panels financed by local residents.

Posted: 2009/09/21 06:00:15 AM

TAG Global warming , Government , Manufacturing industry , Non-manufacturing industry