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U.S. firm eyes multibillion-dollar Japan decarbonization fund

Sumitomo Mitsui Trust Bank to assist in raising cash and investing locally

Solar panels are seen at a power facility with Mount Fuji in the background.   © Reuters

TOKYO -- A U.S. investment firm is planning to work with Sumitomo Mitsui Trust Bank to establish a multibillion dollar fund for Japanese decarbonization efforts by 2024.

"Japan is one of the top greenhouse gas emitters in the world and decarbonization is challenging. Large investments will be needed to achieve decarbonization in the near future," said Doug Kimmelman, senior partner and founder of Energy Capital Partners.

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