Green Innovation Fund

In March 2021, Japan's New Energy and Industrial technology Development Organisation set up the Green Innovation Fund, worth up to 2 trillion yen ($19.2 billion), to implement ambitious green projects over the next decade as part of additional stimulus measures in response to COVID-19. A further top up of 300 billion yen and 456.4 billion yen was made available in FY2022 and FY2023 respectively. The fund focuses on R&D, demonstration and social implementation across energy related industries, transportation and manufacturing-related industries as well as home and office related industries. The related energy related sectors include:- Offshore wind power, solar power, geothermal power- Hydrogen and fuel ammonia- Next generation heat energy - Nuclear power- Automobiles and storage batteries- Semiconductors and information and communication- Shipping- Aircraft - Carbon recycling and materials - Housing and building and next generation power management The fund also considers other sectors such as logistics, people flows and civil engineering infrastructure, resource circulation and lifestyle-related.This includes regular monitoring and a system that allows companies to access more funds if they meet interim targets successfully.

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