“Japan’s Spending Plans for Climate and Energy: Unpacking Japan’s National Budget for Fiscal 2024”
The size of government budgets and the steady implementation of upfront investments by governments are crucial factors in promoting policies and measures relating to climate and energy.
On January 16, 2024, Cabinet approved the government of Japan’s budget for 2024. The budget also incorporates GX investments funded by GX Economy Transition Bonds under the policies to promote a Green Transformation (GX).
This report summarizes and examines the overall picture of the Japanese government’s 2024 climate/energy budget and current tallies for the GX investments for 2022 to 2024.
Contents
Key Findings
Ⅰ. Climate and Energy within the Fiscal 2024 Budget
(1) Climate/energy budget overview
(2) Climate/energy budget breakdown (by ministry)
(3) METI and MOE climate/energy budgets
(4) Climate/energy budget breakdown (by category)
Ⅱ. Green Transformation (GX) Budget
(1) Scale and current status of 10-year GX budget
(2) GX budget breakdown (by category)
(3) GX public and private investment plan for 10 years vs current tally
(4) GX Economy Transition Bonds issued in February 2024
Ⅲ. Disclosure of Government Budget Information
Ⅳ. Conclusions