Renewable energy is key to Japan's competitiveness

A Japanese government report says that the availability of renewable energy is key to the country's competitiveness in attracting new overseas businesses and industries.

The cabinet approved the annual white paper on energy on Friday. The report describes a global trend of firms accelerating their shift to renewable energy, especially in the IT and manufacturing sectors.

It says more companies are urging their suppliers to cut power consumption and use renewable energy.

The report also says banks and investors are increasingly taking social and environmental impacts into account.
That means more of them are looking into the decarbonization efforts of companies when deciding whether to provide loans or make investments.