TOKYO (Reuters) -- A government plan for greenhouse gas reduction by 2020 would push down Japan's economic growth by 0.6 percentage points and raise unemployment by 0.2 percentage points in 2020, a government panel report showed on Wednesday.

Japan, the world's fifth-biggest greenhouse gas emitter, set in June its 2020 climate target, which is equivalent to a cut of 8 percent below 1990 emission levels.
The report also showed that under the government plan, Japan would need 49 trillion yen ($515.9 billion) over the next decade to implement its main policies to cut emissions, such as rising the use of solar power, and that households may have to spend up to 77,000 yen a year.
Toshihiro Nagahama, chief economist at Dai-Ichi Life Research Institute, said the panel's estimate of the economic impact by the government goal seems too small. “It means there is almost no impact,” he said.
The report showed that the opposition Democratic Party's goal to cut emissions by 2020 would push down real gross domestic product growth by 3.2 percentage points and the unemployment rate could grow by 1.3 percentage points.
The Democrats, who lead in opinion polls for the Aug. 30 election, have vowed to cut greenhouse gas emissions by 25 percent from 1990 levels by 2020.
Earlier this week, Japan's biggest business lobby criticized the Democrats' plan as posing too heavy an economic burden.
The LDP said in its campaign platform that it aims for a 20-fold increase in the use of solar power by 2020, while the Democrats said it will create a domestic emissions trading market and place compulsory volume caps on emitters.
“From the viewpoint of putting out environment-related measures, the ruling Liberal Democratic Party is more specific,” Nagahama said. “The Democrats have a tougher target, but we cannot see how exactly they will realise this.” -