Big benefits in anti-warming policies

Policies to reduce greenhouse gas emissions by 25 percent from 1990 levels by 2020, if swiftly implemented, would create 45 trillion yen ($486 billion) in new business and 1.25 million new jobs, the Environment Ministry said.

Contrary to calculations by the previous administration headed by Taro Aso that said measures against global warming could hinder economic growth, the ministry's report Friday concluded both can be achieved.

According to the report, policies that subsidize solar power generation and tighter standards on housing heat insulation would generate new investments totaling 33 trillion yen in 2020 for the development of energy-saving technologies and other purposes.

Exports of the new technologies would create 12 trillion yen more in new demand, it said.