3. Boldly tackling global-scale issues to become a sustainable city

Striking a balance between the global environment and convenient and comfortable lives. This is a challenge facing all humankind, and is also a mission of megacity Tokyo. The Tokyo Metropolitan Government will take the lead in driving actions and initiatives in both Japan and abroad.

Promoting new urban development through Tokyo Green Biz

Urban development during the period of Japan’s rapid economic growth, which prioritized economy and efficiency, is now a trend of the distant past. We are now engaged in urban development that values people’s living environment and comfort, rather than the creation of cities covered with concrete and asphalt. In recent years, through skillful creation of sites and efforts to be in harmony with nature, the amount of green space has actually been increasing in the city center where developments are underway. In particular, recent urban development projects in districts such as Takeshiba, Azabudai, and Otemachi have created more than 60,000 square meters of new green space, with offices and residences embraced by groves and colorful flowering plants that make you want to take a deep breath of fresh air. People’s sense of values and the role of cities have become increasingly diverse through the climate crisis and fight against COVID-19, creating the need for greater harmony between the natural environment and urban functions. With a focus on our city one century ahead, Tokyo Green Biz will promote urban development that is in harmony with greenery.

In order to promote forest development in the Tama Area, we signed partnership agreements with 12 municipalities in Tokyo for more effective utilization of the Forest Environment Transfer Tax, which is transferred from the national government to prefectures and municipalities. We will strive to expand the circle of cooperation even more to include such areas as conservation of the environment, nature activities, and the promotion of Tama timber. Under a new master plan scheduled for formulation within this fiscal year, our lush metropolitan parks which serve as urban oases, will be updated so that they can firmly fulfill the role demanded of them now. We will realize a city in harmony with nature through efforts to "protect,"　"increase and connect," and "utilize" greenery. These include a "tree bank" through which trees that need to be replanted will be reused in park construction and other developments, and "green infrastructure," which leverages the functions of nature to solve social issues.

Pushing ahead concrete actions to realize a net zero society

In order to ensure that carbon emissions will be halved by 2030, it is crucial for the TMG to take the lead in initiatives and create a movement that involves both the public and private sectors.

Tokyo leads initiatives

Accordingly, Toei Bus will promote the introduction of fuel cell buses by having hydrogen stations built in its bus depots. We will also take on the challenge of building a model for the introduction of EV buses in large cities by improving the performance of charging stations and vehicles, and their use as storage batteries on wheels in the event of a disaster or other times, and promote the introduction of mobility that contributes to a carbon-neutral society. For SAF （sustainable aviation fuel）, which is attracting attention as a next-generation aviation fuel, we will initiate a project to recover used cooking oil, which can be used in its production, to support the establishment of a supply chain for Japan’s first large-scale production of this fuel.

We will be holding two international conferences prior to November’s COP28. We will strengthen collaboration with cities overseas that raise the same goals by holding not only a conference calling for concrete action on the theme of energy decarbonization, but also launching a new conference to promote the establishment of an international hydrogen supply chain and technological development. While sharing both domestically and internationally the importance of such initiatives, we will lead the way in the early adoption of hydrogen and renewable energy as it is now truly “TIME TO ACT.”

Moreover, we will bolster our pioneering cap-and-trade system in order to curb carbon emissions and expand the supply of renewable energy. In addition to significantly raising carbon reduction obligations for large-scale business establishments, the system will be revised to further encourage the use of renewable energy. For small- and medium-scale establishments as well, we have decided to require business operators to make calculated efforts to reach new levels established for achievement by 2030. We are proposing the amendment of the ordinance concerning such systems at this regular session. In order for Tokyo to evolve into an environmentally advanced city befitting of the coming age, it is essential that we boost the level of our initiatives even more. Your deliberation of this bill will be greatly appreciated.

Everyday actions taken by the people of Tokyo and Japan are also important. Have you ever heard of "deco katsu”? It is a catchword promoting both decarbonization and eco-friendly lifestyles. In addition to HTT, we will promote environment-friendly behavior among Tokyo residents under the banner of "Deco-Katsu Tokyo" in cooperation with the Ministry of the Environment, which is advancing this national movement.

Cultivating momentum for sustainable finance

Finance has the power to support and accelerate progress toward a carbon neutral society. Next month an international conference to discuss finance for sustainable development,　“PRI in Person,” will be held in Japan for the first time. Taking this opportunity, we will hold various seminars and lectures under the title of "Tokyo Sustainable Finance Week.” Also, in close cooperation with other countries that are aiming to become “leading asset management centers,” we will raise enthusiasm for sustainable finance and greatly enhance the presence of Tokyo as an international financial center.