Japan creating fund to finance phase-out of carbon dioxide emissions

The government of Japan has adopted a bill of amendments to legislation aimed at creating a fund to finance measures to phase out industrial emissions of carbon dioxide into the atmosphere, Report informs citing TASS.

The country’s authorities will invest 20 billion yen (almost $174 million) in it.

The fund is to begin work in the fall of 2022. By attracting private investment, its volume is scheduled to be increased to 100 billion yen (more than $867 million), Kyodo news agency reported.

The fund is expected to finance various projects for the introduction of renewable energy sources, technologies for efficient waste processing, conservation and increase in the area of ​​forests that absorb carbon dioxide.

The Japanese government intends to completely stop the country’s automotive and industrial emissions of carbon dioxide into the atmosphere by 2050.