??U.S. tax credit for EVs out of reach for most other Japanese cars

Greetings! It's issue 16 of the "Japan Climate Curation" newsletter?? with?5,724?words

I assume many people in Japan are taking summer holiday as Japan commemorates the end of the war 77 years ago today. I hope many of you spend time with family and friends while remembering the lives lost, and to reflect on peace.

Here are 7 climate-related news headlines, which caught my attention this week. Is there anything you find interesting? I found 【1】 and 【2】worth-sharing as these moves could be a wake-up call for accelerating domestic EV development. Also, I thought 【7】is an important cautionary tale against corporate greed and an example of the power of civic activism.

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[????????Japan Climate News Headlines]

【1】U.S. tax credit for EVs out of reach for Toyota, most other Japanese cars - North American production rule for vehicles and batteries presents roadblock? [2022/8/14 Nikkei Asia *summary by summari ]

• The Biden administration's latest move to promote electric vehicles in the U.S. poses a roadblock for Toyota Motor and other Japanese automakers: a requirement to make the cars in North America. Sweeping tax, climate and health care legislation that the White House has dubbed the Inflation Reduction Act provides a tax credit of up to $7,500 for buyers of new EVs through 2032. Used EVs qualify for a maximum credit of $4,000. Japanese car companies worry about the strings attached to EV incentives.

【2】Chinese-built EVs can cut Japan delivery company's costs by 30% - SBS plans fleet of over 10,000 electric vans after encouraging trial run?[2022/8/12 Nikkei Asia *summary by summari ]

SBS Holdings , a Japanese logistics company, has found that buying electric vans assembled in China can lower its operating costs by 30% in a trial run. Since last autumn, SBS has been testing a small electric van manufactured in China to evaluate its suitability for "last-mile" deliveries, the final step in a product's journey from warehouse shelf to the customer's doorstep. The results of the trial clearly showed the van is fit for use in Japan.

【3】Wood replaces steel as Japan builders fight climate change - New fire-resistant materials help multistory buildings go green? [2022/8/15 Nikkei Asia *summary by summari ]

• Japan's leading builders exploring wood as an alternative to steel and concrete as nations look to cut greenhouse gas emissions. Obayashi has developed a new laminate material that can resist fire for at least two hours -- a legal requirement for use in high-rises

【4】Green transition bonds surge in Japan, with $2bn issued this year - Idemitsu Kosan, JFE Holdings nab funding as investors embrace decarbonization? [2022/8/13 Nikkei Asia *summary by summari ]

• Japanese companies have issued 285 billion yen ($2.12 billion) worth of transition bonds this year through July—14 times more than in all of 2021. Transition bonds are issued by steelmakers, oil companies, and other businesses that cannot achieve net-zero emissions quickly, helping them fund efforts to reduce their carbon footprints.

【5】Tokyo Seeks to Take Lead as Green ‘Transition’ Finance Hub - Group promoting capital to make proposal to central government / Manufacturers face problems financing transition to low carbon? [2022/8/12 Bloomberg *summary by summari ]

• Transition finance is the concept of investing in companies to help them cut emissions, something the government is pursuing on the way to its target of carbon neutrality by 2050. Building a market in Tokyo to enable such financing of manufacturers across Asia, could also strengthen Japan’s supply chains and economic security, according to the executive director of the Organization of Global Financial City Tokyo.
• European financial institutions are increasingly unwilling to invest in carbon-intensive industries, making it harder for some of the manufacturing businesses that are particularly numerous in Asia to obtain the financing needed to reduce their footprint.?

【6】Citizens help energize food waste - Citizen cooperation feted as key to success of Japan’s largest biomass fuel project? [2022/8/3 J STORIES]

• Residents in a central Japanese city are getting creative with their trash, creating an additional waste category to help manufacture a new energy resource and reduce carbon emissions. Japanese household garbage is typically separated into four main categories: combustibles, non-combustibles, oversized and recyclables. In the city of Toyohashi, however, local residents also separate out their food waste from other burnables to contribute to the creation of a biomass fuel. The food waste is combined with other waste to generate power at Toyohashi's “biomass utilization center," which is the largest such facility in Japan. Built in 2017, the facility processes a mixture of sewage and food waste, which is fermented and converted into two products: carbon fuel pellets that are sold mainly to local businesses, and methane, which it uses to generate electricity.

【7】Garbage island no more: how one Japanese community triumphed over a toxic waste dump [2022/6/27 The Gurdian]

• Teshima – site of Japan’s worst case of illegal dumping of industrial waste – was saved by locals who fought relentlessly to have their beloved home restored.?
• For several years, almost a million tonnes of industrial waste were dumped illegally on the western tip of the island in the worst case of dumping in Japan’s history. The waste became a “garbage island” and residents wore masks when the waste was burned.? Today, the island is producing strawberries and olive oil and is known for its art museum, cycling-friendly roads, and inclusion in the Setouchi Triennale art festival. It serves as a cautionary tale against corporate greed and an example of the power of civic activism.

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New?? ????? Climate Curation Event & Conference List

I just created a Notion-powered Climate-related event & conference list. Please let me know if you would like to suggest any climate related event for including in the list (as well as any edit / correction request) Thank you!

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??That's all for this week! Thank you for reading?? and have a wonderful and summer week ahead!

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ichi (Hiroyasu Ichikawa)