The government on Tuesday adopted an action plan aiming to invest a total of \u00a51 trillion across the public and private sectors by 2030 to secure recycled resources.<\/p>\n
The plan is designed to promote the reuse of discarded plastics and metals amid intensifying international competition for resources as China tightens restrictions on exports of rare earths to Japan.<\/p>\n
“It is important to promote public-private investment, accelerate the transition to the circular economy, and link the initiative to the (Prime Minister Sanae) Takaichi administration’s growth strategy aimed at realizing a strong economy,” Chief Cabinet Secretary Minoru Kihara said at a meeting of relevant ministers.<\/p>\n
The government plans to reflect the plan in its annual basic economic and fiscal guidelines to be drawn up this summer.<\/p>\n
The government hopes to strengthen economic security by establishing a system to ensure a stable domestic supply of critical minerals and metal resources, such as rare earths, for which Japan currently depends on imports.<\/p>\n
To promote investment in expanding resource recovery and building a supply base for recycled materials, the government is set to secure a sufficient budget and consider a loan system for businesses.<\/p>\n
The action plan, adopted at the day’s ministerial meeting on the circular economy, sets a target for the supply of major metals through 2030.<\/p>\n
Japan also plans to secure about 30% of raw materials from recycled resources for permanent magnets used in electric vehicle motor parts and medical devices by 2030 in light of growing demand.<\/p>\n","protected":false},"excerpt":{"rendered":"The government on Tuesday adopted an action plan aiming to invest a total of \u00a51 trillion across the…\n","protected":false},"author":2,"featured_media":411722,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[246,61,3938,60,3841,7527,12983,3751,82],"class_list":{"0":"post-411721","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-environment","8":"tag-environment","9":"tag-ie","10":"tag-investments","11":"tag-ireland","12":"tag-metals","13":"tag-plastic","14":"tag-rare-earths","15":"tag-recycling","16":"tag-science"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/411721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=411721"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/411721\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/411722"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=411721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=411721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=411721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}