2023.12.6 Wed.

13:00 - 14:15

1.5℃ Business Transformation Plan: Navigating the Net-Zero Future with a Roadmap

Organizer

Japan Climate Leaders Partnership (JCLP)

Co-organizer

Institute for Global Environmental Strategies (IGES)

Seminar abstract

Abstract

The systemic changes required to overcome the climate crisis could pose a challenge but at the same time provide new great opportunities for businesses. At this event, based on the "net-zero roadmap for Japan" that shows milestones and necessary actions to be aligned with the 1.5℃ goal, we will share actions by private companies, receive comments from financial institutions, international organization and international initiatives, and discuss how Japan's business can play key roles in the global efforts toward net zero.

Program

1.5℃ Roadmap for Japan -20 min-

Kentaro Tamura Program Director, IGES

Actions by business (1) -5 min-

Naoko Otsuka Head of Social Solution Business Unit, Fujitsu Ltd.

Actions by business (2) -5 min-

Yoshinori Yamashita Chairperson, Ricoh Company Ltd.

Comments from financial aspects -5 min-

Justin Wu Co-head of Climate Change Asia Pacific, HSBC

Comments from technical aspects -5 min-

Michael E. Webber CTO, Energy Impact Partners

Comments from an international initiative -5 min-

Tracy Wyman Head of Outreach and Engagement, Science Based Targets Initiative

Panel discussion -25 min-

All speakers

Speakers

In-person

• Yoshinori Yamashita / Chairperson, Ricoh Company Ltd.
• Naoko Otsuka / Head of Social Solution Business Unit, Fujitsu Ltd.
• Kentaro Tamura / Program Director, Climate and Energy, IGES
• Michael E. Webber / CTO, Energy Impact Partners
• Justin Wu / Co-head of Climate Change Asia Pacific, HSBC
• Tracy Wyman / Head of Outreach and Engagement, Science Based Targets Initiative
• Miho Kurosaki / IGES fellow and Vice President (Asia and Pacific), Energy Impact Partners
• Daniel Wetzel / Head of Tracking Sustainable Transitions Unit, International Energy Agency

Related Links

• Event announcement page (with video and slides)
• Japan Climate Leaders Partnership
• Institute for Global Environmental Strategies

Session Summary

Dr. K. Tamura (IGES) introduced the outline of 1.5C Roadmap which was just published on the day of this seminar (https://www.iges.or.jp/en/pub/onepointfive-roadmap-en/en). Then speakers made a discussion on the value of this roadmap and how we can utilize it.

D. Wetzel (IEA):
First and foremost is from an energy security perspective. There is a lot of variable renewables to come on the system, and in the near term a strong attention to grid investment, digitalization, flexibility and storage are going to be key.

T. Wyman (SBTi):
We at SBTi have to ensure that the standards that we put out in the world are relevant for companies to actually adopt and implement them. (The roadmap) gives companies the confidence that they can not only invest in their own decarbonization in their operations and their supply chains, but also look at where are the business opportunities for them.

J. Wu (HSBC):
Three items (the roadmap) identified for Japan are very useful: 1. energy security. Renewable energy actually will strengthen Japan's energy security, not worsen it. 2. The need to build transmission and grids. 3. There's quite a bit of (potential for renewables) in Japan.

M. Webber (Energy Impact Partners):
(The roadmap) hits the key themes of electrification, efficiency, cleanliness, the additional Japanese element that is important included, is self-reliance and self-sufficiency.

Y. Yamashita (Ricoh, JCLP co-chair):
By bringing this a roadmap shared by the public and private sectors, companies can be confident in making investments in decarbonization. This will create new business opportunities and develop a positive cycle.

N. Otsuka (Fujitsu):
The point that demand-side is equally important in decarbonization is very encouraging for us. We would like to bring our efforts in decarbonization / sustainability driven by digitalization into Japan’s market.

Message and Results

In aggregate, advanced economies need to reach net zero by 2045 to be consistent with the IEA’s Net Zero by 2050 Emissions scenario. We applaud this roadmap for planting an important flag and opening up a wider conversation of an earlier net zero target in Japan. (D. Wetzel, IEA)
We would love to see that the roadmap be adopted by the Government, backed by the industry. (T. Wyman, SBTi)
We hope this road map will be used by the government for their energy planning. It is not easy. That's why it would be more strategic to work with business stakeholders, particularly with pro-climate business actors like JCLP. (K. Tamura, IGES)