The government on Tuesday decided on a plan to generate public- and private-sector investment in the supply of hydrogen worth ¥15 trillion ($107 billion) over the next 15 years, part of a push to increase its use and speed up decarbonization.

Under the revised Basic Hydrogen Strategy, approved at a meeting between relevant ministers, the country also plans to increase its hydrogen supply sixfold from the current level of 2 million tons to around 12 million tons by 2040.

Since hydrogen does not emit carbon dioxide or other greenhouse gases when combusted, the utility sector can significantly cut emissions by mixing hydrogen with natural gas at thermal power plants, or by burning hydrogen as a fuel.