Japan Sets Ambitious 2040 Emission Reduction Targets, Eyes 50% Renewables and 20% Nuclear in Energy Mix

On February 18, Japan approved new greenhouse gas emission reduction targets through 2040, alongside a revised energy plan and industrial policy. The goal is to cut emissions by 60% from 2013 levels by 2035 and 73% by 2040, extending the 2030 target of 46%. Renewables are projected to comprise up to 50% of the electricity mix by fiscal year 2040, with nuclear contributing 20%. The plan includes building next-generation reactors, moving away from minimizing nuclear reliance. In 2023, nuclear power accounted for 8.5% of Japan's electricity supply.