• SHARE

Nippon Steel Corp. is calling on the government to provide at least ¥2 trillion ($17.3 billion) in subsidies over almost three decades to meet “net-zero” targets, as it seeks to stay competitive against China and other global rivals.

The Japanese steel giant needs such funding so it can vie on an “equal footing,” according to Hideo Suzuki, the managing executive officer overseeing the firm’s net-zero initiative. The company expects it will cost as much as ¥5 trillion to build facilities enabling decarbonization by 2050.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW

PHOTO GALLERY (CLICK TO ENLARGE)