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Climate Change

Japan to help steel and other CO2-spewing sectors fund emission cuts

Heavy industry has struggled to attract capital for transition away from carbon

Carbon-intensive industries like steel often find it difficult to raise capital to cut emissions.

TOKYO -- Japan looks to grease the wheels for heavy industry to raise capital for investments that cut carbon emissions, an area that has struggled to attract funding compared with big renewable energy projects.

The government will set guidelines to allow the sale of bonds and other financial products for climate transition projects, with an eye toward areas such as steel, chemicals, electricity and maritime shipping.

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