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Japan's "Net Zero Leaders Summit" Sets World Challenge to Reach Carbon Neutrality

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Tokyo, Japan, Aug 13, 2021 (Newsfile Corp via COMTEX) -- Tokyo, Japan--(Newsfile Corp. - August 13, 2021) - NET ZERO Leaders Summit sets world challenge. Prime Minister Yoshihide Suga expresses his hope that the summit, like the Olympic Games, can give dreams and hopes to the people around the world

JETRO Net Zero Leaders Summit

Japan's NET ZERO Leaders Summit concluded July 29 [th] after two days of discussions between world leaders representing both businesses and governments from across the globe. The aim of the summit was to take on the challenge to achieve carbon neutrality and realize a "virtuous cycle of economy and environment," part of Government of Japan's industrial policy for "Green Growth Strategy Through Achieving Carbon Neutrality by 2050."

Prime Minister Yoshihide Suga expressed his hope for lively discussions by the leaders during mulitple panel discussions, such that like the Olympic Games, the summit would spur on the hopes and dreams of people around the world. The Prime Minister stated that the realization of a carbon-free society should be a driving force for the sustainable growth of economies, and that he greatly welcomes investment and cooperation in new green markets. He concluded with the hope that the summit will serve as an opportunity for Japan and the world to move forward together.

The summit opened July 28 and is available virtually online through a virtual venue set up by organizers JETRO (the Japan External Trade Organization) and METI (the Ministry of Economy, Trade and Industry through September 10th. From August 11 [th] event videos from the Auditorium Stage, including keynote speeches by Mr. Nobuhiko Sasaki, Chairman of JETRO, and Mr. Masakazu Tokura, Chairman of Japan Business Federation (Keidanren), will be available online.

In his opening remarks, Chairman Sasaki stated that in order to achieve carbon neutrality, the world needs to combine new ideas, technologies, funds, and know-how all together in co-operation. In addition, governments and industries from overseas should join together in order to achieve a world of "Net Zero."

In his keynote speech, Chairman Tokura of Keidanren suggested that green transformation requires a fundamental transformation of both economies and societies. He explained that the Japanese economy will steadily promote proactive initiatives such as Japan's Carbon Neutral Action Plan, Challenge Zero, and information disclosure in co-operation with the government.

Hiroshi Kajiyama, Minister of Economy, Trade and Industry, also spoke at the event by video, announcing that he plans to mobilize all policies to achieve carbon neutrality in Japan. In addition, he expressed his hope that the NET ZERO Leaders Summit event will be an opportunity for the world to learn about the companies that Japan is proud of, as well as an opportunity for innovation and taking on the challenges towards decarbonization.

During the three mains discussions, representatives from IBM, the Boston Consulting Group, The Bank of America, Banco do Brasil, Mitsubishi UFJ Bank, Petronas and more debated and discussed topics including "Green Innovation," "Sustainable Finance," and "Transition in Emerging Countries."

During the, "Green Innovation" discussion, moderator Miki Tsusaka, Managing Director & Senior Partner of Boston Consulting Group (Japan) discussed innovation within private companies to realize Net Zero, together with Benoit Potier (France) Chairman and CEO of Air Liquide, Henrik Andersen (Denmark) President and CEO of Vestas Wind Systems, Virginia Rometti (USA), former Chairman, President and CEO of IBM, and Kathy Matsui (Japan), General Partner of Power Partners.

The panel concluded that trust is critical for technological innovation, and shorter-term economic performance will be essential for the long-term goals. The discussion also took in to account the public and private sectors roles, and the importance of involving the general public in the development process, including the passion of the younger generation towards the global environment, which may mean accelerating efforts through information disclosure and deregulation.

During the, "Sustainable Finance" discussion, Tamao Sasada, the Bank of America Representative in Japan, moderated participants Fiona Reynolds (UK), CEO of PRI (Principles for Responsible Investment), José Ricardo Fagonde Forni (Brazil) Chief Financial Officer and Investor Relations Officer (CFO) of Banco do Brasil S.A. Bank, Alberto de Paoli (Italy), CFO of Enel, and Kanetsugu Mike (Japan), Member of the Board of Directors, Chairman (Corporate Executive) of Mitsubishi UFJ Financial Group, Inc.

The panel discussed how medium-to long-term support will be important for companies to make the transition to low-carbon use, including developing sustainable bonds that go beyond business to support overall corporate transformation. The group agreed on the need to promote long-term business change through investor relations (Net Zero Asset Owners Alliance) but also that the path of transition, including Japan-specific issues, will vary depending on regions and their economic situation. The Government of Japan is itself working on a sector-by-sector road map.

The final discussion tackled, "Transition in Emerging Countries," and was led by moderator Kazushige Nobutani (Japan), President of Japan External Trade Organization (JETRO), together with Zhou Liyang (China), Chairman of the Board, Juhua Group Corporation (and Zhejiang Juhua Co., Ltd.), Tengku Muhammad Taufik (Malaysia), President and Group CEO of Petronas, Sumant Sinha (India), Founder, Chairman and Managing Director of ReNew Power, and Satoshi Akita (Tanzania, Japan), Founder & CEO of WASSHA Inc.

The panel agreed that in regions where industrialization is accelerating, efforts are required according to the local characteristics of each region to achieve Net Zero. The panel found that governments even in developing countries have ambitious goals for clean energy and transition. They discussed how renewable energy is also becoming more competitive, and it is possible to utilize energy storage which has advanced in recent technological innovation.

The five participants also hoped that implementing collaborations with Japan as a leader for carbon neutrality would be a great help for the world, though with each region presenting their own specific challenges, there can be no single path for Net Zero.

The NET ZERO Leaders Summit (Japan Business Conference 2021) is still accepting free of charge registrations to participate, including in its Japan Technology Showcase featuring 54 exhibitors. Participants can join the showcase using avatars to enable interaction, and it remains open until 9/10 (Friday).

The panel discussions and speeches are available to watch online from August 11th through September 10 [th] . In addition, events hosted by JETRO Overseas Offices around the world are continuing from August 11.

Attendees must register to participate via the official site, here: https://www.jetro.go.jp/en/events/jbc/

NET ZERO Leaders Summit (Japan Business Conference 2021)
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93174


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