Japanese companies form industry group to support hydrogen supply chain
07/12/2020 12:27
TOKYO, Dec 7 (Reuters) - Japanese companies including Toyota
Motor Corp 7203.T have established a new organisation, the
Japan Hydrogen Association, to promote the creation of a
hydrogen supply chain in the country, its board member companies
said on Monday.
The move comes as Japan targets the creation of a commercial
hydrogen fuel distribution chain by around 2030 to cut carbon
emissions, and follows Prime Minister Yoshihide Suga's
declaration of an ambitious target of becoming carbon neutral in
2050. urn:newsml:reuters.com:*:nL4N2H61F6 urn:newsml:reuters.com:*:nL4N2HH1AC
The association, co-headed by the chairmen of Toyota,
Sumitomo Mitsui Financial Group Inc 8316.T and Iwatani Corp
8088.T , plans to make policy recommendations to the government
in February next year.
"To implement hydrogen in society in earnest, discontinuous
innovation that goes beyond previous efforts is necessary ,"
Toyota Chairman Takeshi Uchiyamada told a news conference,
referring to dramatic changes in an industry that alter end-user
behaviour.
"Deregulation is also important," he added.
Other board members include oil refiner Eneos Holdings Inc
5020.T and trading house Mitsui & Co 8031.T .
As of Monday, 88 companies from a wide range of industries
had participated as member companies.
Industry Minister Hiroshi Kajiyama said he would fully
support the movement by the private sector.
"We will create a market environment where the CO2-free
value of hydrogen can be fairly evaluated," he said.
The government plans to use part of the 2 trillion yen ($19
billion) fund aimed at helping research and development for
decarbonisation announced by Suga last Friday to support
hydrogen technology, Kajiyama said. urn:newsml:reuters.com:*:nL4N2IK2BJ
"We will consider using all policy tools including
regulatory reforms, tax incentives and international
standardization," he said.
"We want to map out an action plan as a package for a green
growth strategy later this year."
($1 = 104.2100 yen)
(Reporting by Ritsuko Shimizu; Writing by Yuka Obayashi;
Editing by Jan Harvey)
((Yuka.Obayashi@thomsonreuters.com; +813-4563-2761;))