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Banking on Japan: why a sustainable future holds rich opportunities
Lunch Seminar on Japanese Economy and Society
Japan committed at the end of 2020 to net zero emissions by 2050. However, the country’s energy situation is extremely complex. It has the worst energy efficiency rate among major OECD countries, relies heavily on fossil fuels for power production, and enjoys no electricity interconnections with other countries. Additionally, there are few suitable sites in Japan for renewable energy production, while public opposition to nuclear power is considerable following the Fukushima nuclear disaster. To tackle these hurdles and achieve the 2050 net zero objective, the government has setup a comprehensive and ambitious energy transition policy framework. Named the Green Transformation (GX), this set of policies aims to explore all dimensions of the energy transition, from electricity production and energy savings, to mobility. Société Générale looks ahead to the next phase of economic development in Japan based upon the nation’s track record in advanced engineering, its well-established financial markets and cohesive decarbonization policies. Bruno Gaussorgues, Group Country Head of Société Générale Japan, will share insights on Japan’s energy transition.
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