Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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Climate change generates more extreme weather and has ever greater impacts on society and the economy with every passing year. If we are to overcome this global crisis and steer a recovery towards a more sustainable and inclusive path, we need to invest in clean energy and decarbonization of the industrial sector.

Thankfully, more people are now acting on this awareness. The EU has unveiled the “European Green Deal,” which aims to reduce greenhouse gas (GHG) emissions to net zero in 2050, and India has pledged to mitigate its carbon footprint under the Paris Agreement. In Japan, Prime Minister Suga has announced the aim of realizing a carbon-neutral, carbon-free society by 2050.

At Toshiba, we last month announced Toshiba Group’s Environmental Future Vision 2050. By halving GHG emissions throughout our value chain by 2030, compared to 2019, we aim to contribute to worldwide efforts to realize net zero GHG emissions by 2050. We will do this by expanding investment in energy-saving equipment and the use of renewable energy, leveraging our technologies to create products and services that contribute to GHG reductions, and promoting businesses that involve climate change adaptation measures.

One area where we are making advances is renewable energy generation. We are leapfrogging into a new era of solar power technologies with our Tandem solar cell, a light solar power cell that promises to increase new green energy applications and efficiencies; and with the Perovskite solar cell, a film-based cell that can be installed in locations where current silicon cells cannot.

Hydrogen is also an important clean energy source, as it produces no CO2 when converted to electricity. We recently completed Fukushima Hydrogen Energy Research Field in Japan. It’s one of the world’s largest hydrogen production plants, able to produce up to 1,200 Nm3 of hydrogen an hour, and we will use it to demonstrate the feasibility of a hydrogen supply chain.

The Government of India has set itself the goal of installing 175 GW of renewable energy by 2022, and stated its intention to increase capacity beyond them. Achieving that will require not only clean power generation, but also reliable power transmission and distribution (T&D). Through Toshiba group companies in India, we offer integrated energy solutions that include hydro power generation equipment and low-carbon footprint T&D products. I am happy to note that they are contributing to cleaner power in India.

Inspired by the long standing Basic Commitment of the Toshiba Group, “Committed to People, Committed to the Future,” Toshiba has an unwavering determination to make and do things that lead to a better world.  We are channeling our knowledge and expertise into the infrastructure needed for sustainable development and economic growth, and we encourage people everywhere to join hands to create a sustainable and inclusive new day for ourselves and future generations.

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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