Japan aims to boost the size of its domestic circular economy, which focuses on reducing carbon emissions through reuse of products and resources, to ¥80 trillion ($583.7 billion) by 2030, government sources said.

The move to promote its circular economy, currently worth ¥50 trillion and intended to foster sustainable economic practices by reusing and recycling goods and materials, comes as Prime Minister Fumio Kishida's government is stepping up efforts to achieve a carbon neutral society by 2050.

Initiatives will include recycling raw materials and distributing used goods, which are intended to reduce carbon dioxide emissions, a major culprit of global warming, the sources said.