Generic Hero BannerGeneric Hero Banner
Latest Market News

Japan’s power sector cuts CO2 emissions in 2023-24

  • Spanish Market: Electricity, Emissions
  • 09/10/24

Japanese power suppliers reduced CO2 emissions in the April 2023-March 2024 fiscal year, because of increased use of nuclear and renewable power sources as well as higher thermal generation efficiency.

CO2 emissions by the country's power firms totalled 311mn t in 2023-24, equivalent to 0.421 kg/kWh, based on 738.2TWh of electricity sales which accounted for 91.4pc of the country's total power sales, according to preliminary data released by the electric power council for a low carbon society (ELCS) — a group of 61 Japanese power firms. The 2023-24 emissions were lower by nearly 5pc from 327mn t, or 0.437 kg/kWh, in 2022-23.

The ELCS is aiming to cut CO2 emissions to 0.25 kg/kWh by 2030-31, in line with the government's goal for all the country's power sources in the same fiscal year.

Japan's renewable power output — including hydropower generation — totalled 148TWh in 2023-24, up by 3.1pc from a year earlier, according to the country's trade and industry ministry Meti. Nuclear generation also rose by 50pc to 80TWh during the period. Renewable and nuclear accounted for 18pc and 10pc respectively of the country's total power generation. Thermal output fell by 6.5pc from a year earlier to 594TWh in 2023-24, but still accounted for 72pc in the power mix.

Japan's greenhouse gas (GHG) emissions in 2022-23 fell by 2.5pc from a year earlier to 1.135bn t of CO2, because of higher renewable power output and lower energy consumption, according to the environment ministry. This marked the lowest level in 33 years or since 1990-91, when Japan started recording its emissions data.

Japan's nationally determined contribution (NDC) targets for a 46pc reduction in its GHG emissions by 2030-31 against the 2013-14 levels. Tokyo is set to update and submit its new NDC with an emission reduction goal for 2035 in 2025.


Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

17/11/25

Cop: More countries join carbon market coalition

Cop: More countries join carbon market coalition

Belem, 17 November (Argus) — Another seven countries have joined the Open Coalition on Compliance Carbon Markets, according to the UN Cop 30 climate summit's presidency. The coalition was launched by Brazil, China and the EU during the leaders' summit, held a week before Cop 30. It is an initiative to standardise and integrate different national carbon markets. Andorra, Guinea, Monaco, New Zealand, Norway, Rwanda and Singapore have now joined the coalition, following Armenia, Canada, Chile, France, Germany, Mexico, the UK and Zambia. Brazil's ministry of finance is leading the development of the initiative, which will enable countries to work together in defining best practices to monitor, report and verify carbon markets, to establish common accounting standards and ensure the integrity of offset mechanisms, the ministry's deputy executive secretary Rafael Dubeux said. A regulated carbon market is an essential pathway to achieve a "structured, orderly and equitable" transition away from fossil fuels, he added. The topic has emerged as one of Cop 30's key points . The EU's energy commissioner Dan Jorgensen also voiced his support for the initiative. "The coalition can establish a benchmark to fully integrate relevant standards into final national targets and the design of domestic carbon markets," he said. By Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Cop: Ministers left with mountain of work at Cop 30


17/11/25
17/11/25

Cop: Ministers left with mountain of work at Cop 30

Belem, 17 November (Argus) — Ministers gathering for the second week of the UN Cop 30 climate summit are tasked with piecing together informal negotiations, including on a potential roadmap on transitioning away from fossil fuels, responses to the lack of ambition in new climate plans, and other topics on the official agenda. Ministers will have to wrap up talks held in informal presidency consultations on four key topics — unilateral trade measures, climate finance obligations, emissions reporting and responses to climate plans — even though it remains unclear how a potential deal might look. The Brazilian Cop 30 presidency released a note on 17 November highlighting where parties continue to disagree. Gaps remain on finance, with some countries eyeing a work programme, while developed countries reaffirm that their obligations towards developing countries are covered under the new $300bn/yr finance goal agreed last year in Baku . There are also five options on the response to climate plans. One is to have an "annual consideration" under official negotiations of the report weighing country targets and actions, while another is to have an unnamed roadmap to accelerate implementation, international co-operation and investment to be published before Cop 31. Some negotiating groups, including the alliance of small island states (Aosis) and the Environmental Integrity Group (EIG) are supporting the creation of a fossil fuel phase-out roadmap, while the "EU strongly welcomes the idea for a roadmap being discussed at Cop 30," energy commissioner Dan Jorgensen said. Germany, Spain, Switzerland and the UK have also signalled support. But UK energy minister Ed Miliband pointed out the difficulty for some countries to move away from fossil fuels, including reliance on hydrocarbons for energy and jobs. Brazil and Colombia are also supporting the roadmap. But few other developing oil producers have spoken in favour of it, pointing to their dependence on hydrocarbons, the need for increased finance flows and a just transition. "It's acceptable that Nigeria is ready to transition, but transitioning now has to be consistent with a bunch of economic priorities," the director general of Nigeria's national council on climate change Omotenioye Majekodunmi said. Transitioning away from fossil fuels "must recognise the very strong differences in economic opportunities," she said. The Arab Group, which includes major oil producers Saudi Arabia and the UAE, wants to focus on the climate finance obligations of developed countries. The calls for a fossil fuel roadmap have yet to turn into something more tangible, according to the presidency. Brazilian environment minister Marina Silva said that she does not expect a decision on this at this Cop but welcomes the "beginning of the construction". Even if a roadmap fails to materialise in Belem, the pressure on fossil fuels is likely here to stay at climate summits. Official talks Ministers will also need to agree on official items this week, including adaptation, just transition and the UAE dialogue, which aims to advance the implementation of the global stocktake (GST). The GST agreed two years ago at Cop 28 in Dubai featured the call to transition away from fossil fuels and triple renewable energy capacity by 2030, which has since received some pushback. To help them, the Brazilian presidency asked countries to finish all technical works on the agenda items by 18 November. Cop 30 chief executive Ana Toni struck a positive note about negotiations at the end of the first week, saying several texts have already been approved, but conceded that a lot of work remained to be done. An informal text on the just transition work programme featured options with language on fossil fuels and the phase-out of fossil fuel subsidies, but the paragraphs face opposition. The text recognises the role of transitional fuels — largely natural gas — while transition minerals have been included within the scope of the programme. "To get, you must give, and being honest, we need to be giving more," UN climate body UNFCCC executive secretary Simon Stiell said. "The issues that may not be priorities for you are clearly issues and priorities for other nations," he added. By Lucas Parolin and Caroline Varin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Cop: 'Tangible' transition from fossil fuels needed


15/11/25
15/11/25

Cop: 'Tangible' transition from fossil fuels needed

Belem, 15 November (Argus) — Kazakhstan's deputy minister of natural resources Mansur Oshurbayev today called for a "tangible, not rhetorical" transition away from fossil fuels at a panel during the UN Cop 30 climate summit in northern Brazil. Nigerian and Fijian representatives at the same panel noted the need for "real alternatives" for industry and workers, and for the finance to support a transition, respectively. The topic of moving away from fossil fuels has drawn attention at Cop 30, with host country Brazil's President Luiz Inacio Lula da Silva calling for a roadmap to overcome dependence on them . But talks on the topic are moving slowly. Cop 30 chief strategy and alignment officer Tulio Andrade said earlier this week that they are not on the formal negotiation table. Almost 200 countries agreed to transition away from fossil fuels at Cop 28 in 2023. Some developing nations such as Colombia are eager for a phase-out plan at Cop 30, but others, especially in the Middle East and Africa, are concerned that it might hinder their development, according to delegates. A growing number of countries are discussing an option similar to the so-called Baku to Belem roadmap , which sets out paths to scale climate finance for developing countries to $1.3 trillion/yr by 2035. A fossil fuel phase-out roadmap could look similar, a French delegation source said. Any reduction in fossil fuel production can only come "with real alternatives for firms, workers and regions", Oshurbayev said during the panel. "We must preserve and redeploy this human capital into activities that support the climate transition and do not directly compete with the coal and oil and [natural] gas operations", he added. The phase out of fossil fuels is a "difficult conversation", the director general of Nigeria's national council on climate change Omotenioye Majekodunmi said. Around 80pc of Nigeria's economy relies on fossil fuels and the country uses about 40GW of fossil-powered generators to generate electricity, he said. But there have been some strides at the national level, such as removing taxes on photovoltaic systems, solar panels and batteries, which will allow "small mom and pop shops and homes to adopt renewable energy options other than burning gasoline and diesel", he said. The country also removed long-standing fuel subsidies in 2023. The Netherlands' vice-minister of climate and energy Michel Heijdra called on countries to reduce fossil fuels subsidies earlier in the week during a Cop 30 high-level event. And fossil fuel subsidies throughout the world are mostly "underpriced, underused or unjust", the deputy chief of IMF's climate policy division Diego Mesa said. Nigeria is also considering creating an additional tax on oil products, Majekodunmi said, which would encourage the country to "reimagine alternative energy sources to drive its economy". The country will rely on natural gas as a "transition fuel" as it winds down over-dependence on fossil fuels, Majekodunmi said. Electrification can also help countries reduce fossil fuel usage, Oshurbayev said. Bold and joint action will be needed to mitigate the consequences of irreversible climate change, including to phase out fossil fuels, the permanent secretary of Fiji's environment and climate change ministry Sivendra Michael said. And any such action will require financing, he told Argus on the sidelines. Some countries, such as India and Saudi Arabia, are pressing for the climate finance obligations of developed countries to developing countries to be addressed at this summit. This is one of four contentious topics that did not make it onto the official agenda, but that countries are discussing in consultations overseen by the Cop presidency. "The ball is [in the] rich countries' court", Michael said. The technical phase of Cop 30 is now wrapping up, as countries' ministers are starting to arrive. The talks will shift into a political phase from 17 November. By Lucas Parolin and Rhys Talbot Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Cop: 10 countries pledge to align transport with 1.5ºC


14/11/25
14/11/25

Cop: 10 countries pledge to align transport with 1.5ºC

Belem, 14 November (Argus) — A group of 10 countries led by Chile called for a global effort to cut energy demand from the transport sector by 25pc by 2035, aligning it with the Paris Agreement goal of limiting global warming to 1.5°C above pre-industrial levels. The coalition was formed at the UN Cop 30 climate summit, which is underway in Belem, northern Brazil. Brazil, Colombia, Costa Rica, the Dominican Republic, Honduras, Norway, Portugal, Slovenia and Spain are the other signatory countries so far. "We are committed to making transport a key pillar of climate action, agreeing a shared framework for resilient and low emissions transport systems", Chile's transport minister Carlos Abogabir told journalists at Cop 30. Cutting energy demand from transport — the second-largest emitting sector — allows for "a clear measurable direction towards a net zero scenario in the transport sector in 2050", he added. Chile is a natural leader for the coalition as it is a global leader in efforts to electrify its public transport fleet. The country's capital Santiago is the city with most electric buses outside of China, Abogabir said. It had around 3,000 electric buses in 2024, according to a report by Agora Verkehrswende, a non-governmental organisation focused on climate neutrality in transport. But it will have 4,400 by March, Abogabir added. The coalition will now work to create a roadmap to reach the pledge's goal and measure progress for future Cops, according to Slocat, a global partnership that promotes sustainable, low-carbon transport. Sustainable fuels, renewable sources Although the pledge will heavily rely on electrification, it also calls on countries to shift one-third of energy powering transport to sustainable biofuels and renewable sources. Brazil is the second-biggest biofuel producer globally, trailing only behind the US. But it will consider any route that both decarbonizes its fleet and drives national industry, Brazilian minister of cities Jader Barbalho Filho told Argus , mentioning specifically liquid nitrogen and biomethane. Including existing and expected projects, Brazil could have 2.4mn m³/d of biomethane capacity by 2027, data from hydrocarbons regulator ANP show. The shift to sustainable biofuels and renewables sources plays well into Brazil's Belem 4x pledge , which calls for a global effort to quadruple global output and use of sustainable fuels by 2035, Filho added. "The Chilean government looked for us [to present the transport pledge] exactly because we already have [Belem 4x]", he said. The Belem 4x pledge now has 23 country signatories, Cop 30 chief executive Ana Toni said today. By Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

More oil, gas firms have emissions action plans: OGDC


14/11/25
14/11/25

More oil, gas firms have emissions action plans: OGDC

London, 14 November (Argus) — Oil and gas firms that are signatories to the Oil and Gas Decarbonisation Charter (OGDC) have increasingly set out plans to address their operational emissions, methane emissions and flaring, a report from the OGDC said today. Of the companies signed up to the charter in 2024, 36 reported having "interim action plans" for scope 1 and 2 emissions reductions for 2030, 31 reported that they had methane action plans and 33 reported having flaring action plans — up from 31, 20 and 22, respectively, in 2023. Of the signatories, 36 have third-party verification systems in place, the report found. The charter was signed at Cop 28 in 2023 and now has 55 signatories, representing around 40pc of global oil production and around 35pc of global oil and gas output. Of the signatory companies, around two-thirds are state-owned. OGDC signatories produced nearly 59mn b/d of oil equivalent (boe/d) in 2024. The OGDC estimated that total operated scope 1 and 2 emissions for all charter signatories stood at around 1bn t/CO2 equivalent (CO2e) in 2024. The estimate was based on submissions for operated scope 1 and 2 emissions from 41 signatories, which totalled just above 800mn t/CO2e in 2024. Scope 1 and 2 emissions usually make up a minority of oil and gas producers' total emissions. But scope 3, or end-use, emissions represent the vast majority of oil and gas producer emissions, with estimates in the range of 80-95pc of the total. A report from a group of more than 130 scientists on 13 November found that emissions from fossil fuels are projected to reach a record high of 38.1bn t/CO2 this year. Global emissions from "human activities" stood at 53.2bn t/CO2 equivalent (CO2e) in 2024, without factoring in emissions from land use, land use change and forestry, the EU's Edgar programme found in September. Charter signatories invested around $32bn in "low-carbon solutions" which include renewables, carbon capture, hydrogen and "low-carbon fuels" in 2024, according to the report. Signatories agree to aim for net zero operations by 2050, "near-zero upstream methane emissions" by 2030, zero routine flaring by 2030 and to "set and share" a 2030 goal for scope 1 and 2 emissions. TotalEnergies, a signatory to the charter, today committed $100mn to a fund which supports technologies to cut emissions "across the oil and gas value chain". The fund — Climate Investment — is partnered with the charter and will help signatories "on their decarbonisation path", within the charter's scope, TotalEnergies said. By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more