Japan plans to increase its supply of hydrogen sixfold from the current level to around 12 million tons by 2040 in an effort to spur use of renewable energy, a draft revision to its resource policies showed Tuesday.

Prime Minister Fumio Kishida's administration will aim to generate ¥15 trillion ($113 billion) in investment from both the public and private sectors over the next 15 years to achieve the goal, the draft said.

At a meeting attended by relevant ministers on Tuesday, Kishida pledged to revise the Basic Hydrogen Strategy, formulated in 2017, by the end of May. Hydrogen does not emit carbon dioxide when combusted.