3. Overcome the crisis for Tokyo to transform into the world’s city of choice

Now, I would like to speak about our major policies. First are Tokyo's efforts in areas such as the environment, finance, and industry to significantly become the world’s city of choice.

Environmental policies that move the world

Rolling out a global movement from Tokyo

The climate crisis, with increasingly severe events such as catastrophic heat waves and torrential rains, is truly a threat to humankind. In order to confront this crisis, I announced the “Climate Emergency Declaration: Time to Act,” and called on the world that now is the “Time To Act.” And just last month, I attended the World Economic Forum's Davos Agenda, where I announced to the world our "carbon half,” the goal of a 50 percent reduction by 2030 in Tokyo's greenhouse gas emissions compared to the 2000 level. In cooperation with international networks such as C40, of which I serve as a vice chair, we will lead the world in "action" against the climate crisis and roll out a global movement originating from Tokyo.

Taking solid action for moving away from gasoline

In the past few months, the transition to zero emission vehicles has been moving very rapidly in the world, including the United Kingdom and China, and a fierce battle for dominance in the auto industry that will determine its future is underway. Without lagging behind these global trends Tokyo must demonstrate its presence as an environmentally advanced city and also connect its superior environmental technologies to the sustainable growth of the Japanese economy. With this determination, we have recently set an ambitious goal to ban sales of all new gasoline fueled cars and motorcycles sold in Tokyo by 2030 and 2035, respectively.

In the coming fiscal year, we will promptly take firm action to achieve this goal. In order to expand the popularity of ZEVs in one stroke, we will take measures such as expanding subsidies in cooperation with the Ministry of the Environment and extending tax breaks to reduce the actual burden of its adoption to a level that is at least lower than that of gasoline vehicles. We will also establish a new subsidy for the installation and maintenance of EV rapid chargers. Furthermore, we will take versatile measures such as promoting battery sharing to improve the convenience of EV motorcycles and exploring new schemes to encourage ZEV development by manufacturers.

Utilization of hydrogen as a pillar of decarbonization

With regard to the utilization of hydrogen as a pillar of decarbonization, we will continue to move forward as efforts are accelerating in Europe and around the world. At the end of last year, we held the Tokyo Hydrogen Initiative, where leading companies in the hydrogen business gathered and confirmed that the government and the private sector will strongly collaborate to expand the use of hydrogen energy that will open up the future. We will steadfastly implement measures such as the expansion of hydrogen stations and the popularization of fuel cell commercial vehicles.

Green finance enhances the city's status as an international financial center

In addition, “green finance,” which combines the environment and finance, will serve as a major catalyst for actions to combat the climate crisis through the collective efforts of various organizations. Initiatives that contribute to environmental improvement will be properly evaluated in the market, and this will attract investment to further accelerate the initiatives. This positive cycle is the very embodiment of sustainable recovery.

For some time now, I have been working to make Tokyo one of the world's leading international financial centers. In April, a new position of Director General in charge of Global Financial City Strategy will be established, and in the fall, we will revise the “Global Financial City: Tokyo” vision to further accelerate its implementation. At the meeting of experts for the revision of the vision, the expansion of the green finance market was identified as a top priority. And I would like to fully develop a new market here in Tokyo that attracts highly motivated, value-aligned investment around the world. We have just held a preparatory meeting for the establishment of the Tokyo Green Finance Market (tentative name), and will deepen our discussions on the specifics.

Raising the level of Tokyo's industrial strength

Putting the economy damaged in the fight against the virus back on track for growth and further development. One of the keys to this is to respond to the new needs that have emerged in the COVID-19 crisis and link them to "new growth." In order to strongly promote digital transformation, which is indispensable for that purpose, and to further refine Tokyo's earning power, we will launch a program in which dedicated advisors will provide thorough support to small and medium-sized enterprises (SMEs), from the introduction of advanced technologies to their utilization. Also, we will subsidize the cost of installing the latest equipment for SMEs that are taking on the challenge of developing new products and services through digitalization. In addition to providing detailed support for DX, we will work to raise the level of Tokyo's industrial strength by continuing to provide multifaceted support for SMEs, including business succession and the development of sales channels.

Furthermore, I would like to use the power of startups with original ideas and mobility as a tailwind for DX, which should be advanced at a rapid pace. By creating match up opportunities with large companies and encouraging the spread of products and services that contribute to the promotion of DX, we will lead the way to social implementation of advanced technologies.

We will also utilize the power of digital technology to improve the earning power of urban agriculture. While promoting "Tokyo smart agriculture," which propels the development and use of advanced technologies, we will work to make agriculture a pillar of Tokyo's earning power by establishing its solid position as a growth industry through efforts such as the training of people who can utilize digital technology at the Tokyo Agriculture Academy. In addition, we will work for sustainable development of the agriculture, forestry, and fisheries industries, which generate Tokyo's diverse appeal, through a wide range of initiatives, including the strategic enhancement of the brand power of Tokyo-produced food products such as fresh vegetables and sea foods, the promotion of the use of domestic timber in cooperation with other parts of Japan, and the establishment of new manpower development centers for the forestry and fisheries industries.