About 3 million tons of industrial waste oil (comprised of waste solvents, waste lubricating oils, waste cooking oils, etc.) is being generated annually (2018FY). Approximately 42% of this discharge is recycled into alternative fuels and the rest is incinerated. Waste oil-derived CO
2 emissions (about 9.8 million tons CO
2 in 2018FY) account for about 25% of the greenhouse gas emissions in the waste sector. Keeping in line with the aim of transitioning into a carbon-neutral society by 2050, measures to reduce CO
2 emissions from waste oil must be considered a high priority. Although waste oil recycled as fuel contributes to the reduction of CO
2 emissions equivalent to the alternative heavy oil and light oil, most solvents and lubricants are actually major sources of waste oil and are made from petroleum. From the viewpoint of carbon neutralization, therefore, it is necessary to consider measures to reduce CO
2 emissions from all waste oil, including that used as recycled fuel. This paper summarizes the current status of recycling of waste solvents and waste lubricants, and also introduces some prospects for strategies to make the entire waste oil cycle carbon-neutral by the year 2050.
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