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Time is running out to act on climate change. But rather than climate action being a drain on our economy, our Japan report shows it will significantly boost GDP and accelerate phenomenal growth.


With decarbonization acting as a new economic engine, Japan plays a key role in providing the skills, technology and innovation for this global transformation.


By moving now with bold action, we can not only avoid the worst impacts of climate change, but also create prosperous long-term economic growth for Japan and the world.


But we only do this if we do it together and we do it now – we are at a turning point.

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Japan’s turning point

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Technical Appendix Report

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Access all Asia Pacific and geography reports

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Report insight

APAC

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Report highlights

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Economic imperative—our turning point

The cost of action and inaction

The cost of doing nothing is economically devastating


¥95 trillion lost from Japan’s economy by 2070.

Unchecked climate change in Japan is equal to the economic loss of 85 typhoons that are the magnitude of Typhoon Hagibis.


Source: AON. (2019). Weather, Climate & Catastrophe Insights Report: 2019.


We have a narrow window of time to change the future. Decisions need to be made in the next decade to combat the worst impact and accelerate economic growth.


Acting on climate change is the new economic engine


¥388 trillion added to Japan’s economy by 2070. A gain of ¥32 trillion experienced in 2070 alone—equivalent to adding two of Japan’s most valuable multinational conglomerates to Japan’s economy.


Source: Deloitte Economics Institute.

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The opportunity and impacts

Japan faces a critical and consequential choice

Japan has much to lose from inaction


The five most affected industries from unchecked climate change are services, manufacturing, retail and tourism, construction and transport which in total account for more than 90% of Japan's current economic output.


Source: Deloitte Economics Institute.


 

Japan has much to gain from action


Rapid decarbonization will enable Japan to change its fuel mix to 40% hydrogen by 2070. This transition would see Japan restructure its economy toward growth in advanced industrial sectors, leverage clean energy export markets and make clean energy technologies affordable globally.


 

Source: Deloitte Economics Institute.

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Time to act—accelerating to zero

Four phases will shape our economic and climatic future


  1. From 2021 to 2025—Bold climate plays: Decisions begin to impact decarbonization. Clean energy sectors, construction and services see immediate gains.
  2. From 2025 to 2035—Coordinated change: maintain competitive advantage through the import of low-emission technologies and hydrogen.
  3. From 2035 to 2045—Turning point: : shift to a new complex green economic structure.
  4. 2045 onwards—A low-emission future: Japan is near net-zero and operates in a world that keeps global warming to around 1.5°C.  


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Dive into the data

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Related content

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WorldClimate
Deloitte Economics Institute
Voice of Asia
Climate & Sustainability

Contact us

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Shiro Katsufuji

Managing Director, Risk Advisory

Keiko Tatsuwaki

Sustainability Leader, Partner, Risk Advisory

Issui Ihara

Partner, Consulting

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