illuminem summarizes for you the essential news of the day. Read the full piece on Financial Post or enjoy below:

🗞️ Driving the news: Japan has set a new climate target to reduce greenhouse gas emissions by 60% from 2013 levels by 2035
• Critics argue this falls short of the Paris Agreement goal, which requires deeper cuts to limit global warming to below 2°C, ideally 1.5°C

🔭 The context: Prime Minister Shigeru Ishiba’s cabinet approved the plan and submitted it to the UN
• Japan, the world’s fifth-largest carbon emitter, previously committed to a 46% reduction by 2030 but still relies heavily on coal and natural gas
• Experts suggest that Japan needs a 73% cut by 2035 to align with net-zero by 2050

🌍 Why it matters for the planet: Japan's reliance on fossil fuels continues to hinder global climate efforts
Without a stronger transition to renewables, its emissions reductions may not be enough to prevent worsening climate impacts
• The UN has urged nations to increase their ambitions to avoid missing the Paris Agreement targets

⏭️ What's next: If Japan fails to accelerate decarbonization, its LNG demand could rise through 2040, making net-zero harder to achieve
• The country must balance industrial growth, including AI and semiconductor expansion, with its climate commitments

💬 One quote: “Achieving our next emissions reduction goals will require not only existing efforts, but innovative solutions that lead to deeper cuts in emissions.” – Keiichiro Asao, Japan’s Environment Minister

📈 One stat: 73% – The emissions cut needed by 2035 for Japan to align with net-zero by 2050, according to BloombergNEF

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