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Hiroshima for Global Peace

Session1 Summary

“Stable energy supply in the era of economic security and the SDGs”

● With the ongoing increase in the complexity of the international situation around Japan and its socioeconomic structure, economic security has recently come under close focus. In particular, as securing stable supplies of food, resources, energy and other essentials has become a global issue due to the current situation in Ukraine, businesses have a significant role to play in helping countries maintain a stable social life.

● Specifically with regard to energy, European countries have been forced to reconsider their energy mixes, as they have relied heavily on LNG and oil imports from Russia. Under these circumstances, some argued that there could be a return to fossil fuels and a revival of nuclear power. In fact, however, European countries appear to be steering more than ever toward accelerating the transition to renewable energy sources with lower CO2 emissions, such as solar and wind power. How should the Japanese government and businesses act in response to the approach taken by European countries, in which it is important to use energy sources that truly promote the reduction of CO2 emissions, rather than simply jumping to energy sources with a stable supply?

● In this session, we will discuss the expectations of businesses with respect to stable energy supply in light of this increasingly complex international situation and changes in socioeconomic structure, as well as their multifaceted responsibilities to consider, such as economic security and the SDGs.