On May 17, 2024, Japan enacted the Hydrogen Society Promotion Act, paving the way for a low carbon future. The Act introduces two subsidy schemes to boost the development of low carbon hydrogen and ammonia projects. The Clusters Support Scheme supports operators in specific industrial areas to establish sustainable supply chains. The CfD Scheme aims to bridge the price gap between low carbon and conventional fuels through a 15-year subsidy mechanism administered by JOGMEC. Japan's low carbon standard prioritizes CO2 intensity reduction, creating flexibility for blue or green hydrogen and ammonia products. The Act's ultimate goal is to achieve carbon neutrality by 2050, offering exciting opportunities for private sector investors in the low carbon industry.