4. Realizing sustainable recovery and becoming the world’s city of choice

COVID-19 standing in the way; Japan’s structural problems being exposed as we combat COVID-19; and the intensifying global climate crisis. These are some of the numerous challenges we must overcome in order to weave a future filled with hope. Future Tokyo: Tokyo’s Long-Term Strategy serves as a compass for achieving that. By powerfully pushing this strategy forward and realizing sustainable recovery in various policy areas such as through the development of the many legacies we have consummated for the Tokyo 2020 Games, we will create a resilient and sustainable city that is the world’s city of choice.

Promoting a city model to the world that will serve as the benchmark for the future

The Tokyo Bay eSG Project, set in the Bay Area endowed with both diverse attractions and high potentials, was launched as the main project leading the creation of the Future Tokyo.

Transforming Tokyo into a sustainable city capable of responding to various crises. Hints to achieving that can be found by going back a few hundred years to Edo. While being one of the most populated cities in the world, Edo is known to have formed an environmentally friendly circular economy, and many exemplary perspectives on urban development remain. Carrying on such wisdom and traditions passed down from our predecessors, and fully utilizing modern Japan’s proud technical capabilities, we will build a Future Tokyo that is a fusion of nature and convenience. To realize this, from FY2021, we will embark on front-running projects in the Tokyo Waterfront City and Central Breakwater areas, and also formulate a city planning strategy to promote private-sector development. By swiftly implementing social structural reform, such as bold deregulation and utilization of cutting-edge technologies, we will promote a future city model from the Bay Area to the world.

Leading the world starting from decarbonization

Confronted by the climate crisis which is having serious impacts even on people’s daily lives, there is no time left to waste. We must realize the 2050 goal of carbon neutrality. It is said that the actions we take in the next ten years will determine the success of achieving this goal, with the world now engaged in fierce competition for decarbonization. The TMG will mobilize all of its resources to implement policies laid out in the recently updated Zero Emission Tokyo Strategy to realize its world-leading goals, such as halving greenhouse gas emissions by 2030. We have also begun revising our Environmental Master Plan. With this strategy and master plan serving as the driving force, we will implement a “carbon-half” lifestyle involving all actors, and build a sustainable city infrastructure where the social system as a whole has shifted to a decarbonized model.

Elimination of emissions from buildings, which are responsible for more than 70 percent of Tokyo’s CO2 emissions, is particularly an urgent challenge to address. In addition, in order to maximize on the potential of the roofs of homes and buildings housing our 14 million residents, we will strongly advance the installation of solar panels and storage batteries. And through the spread of such homes, which also excel in disaster readiness, we will further enhance our urban sustainability. Furthermore, as an organization that consumes a large amount of energy, the TMG will take the lead in actions based on the Zero Emission TMG Action Plan, such as further promoting energy efficiency and the use of renewable energy, and replacing TMG-owned vehicles with zero emission vehicles, to set an example for the residents and businesses.

Confronting the climate crisis by mobilizing all resources of Tokyo. To do this, revitalization of the financial market, which provides financial support for the decarbonization efforts of various actors, is essential. The Advisory Panel for Global Financial City Tokyo is currently studying measures to attract ESG investments, which are expanding at a dramatic pace, to Tokyo from within Japan and abroad, and to lead the world in green finance. The advisory panel will compile its recommendations soon. Moreover, in order to firmly establish Tokyo’s position as the world’s top global financial city through these initiatives, we have been deepening our discussion on the revision of the Global Financial City: Tokyo Vision. A draft revision of the vision will be released by the end of this summer.

The TMG announced its goal of realizing carbon half by 2030 this January. Recently, the national government came up with a policy of raising its 2030 greenhouse gas emissions reduction target to 46 percent. This shift to green is demanded of states, cities, companies, and all other actors engaged in socioeconomic activities, and is slated to be the global standard for the era of the climate crisis. Now is the “TIME TO ACT” and accelerate our actions. Tokyo will boldly roll out a series of measures that have their origins in decarbonization, and lead the world as a city with advanced environmental measures and as a global financial center.