Japan to Speed Up Discussions on Carbon Pricing

Politics

Tokyo, Feb. 15 (Jiji Press)--The Japanese government is set to accelerate discussions on introducing carbon pricing schemes, which require companies to pay a price for their greenhouse gas emissions, aiming to deliver its pledge to achieve carbon neutrality in the country by 2050.

Tokyo is concerned about the possibility that delayed action could result in Japanese products being shut out of overseas markets amid growing international calls for measures to stop global warming. But a careful study is needed as too heavy a burden could dampen Japanese companies’ international competitiveness.

On Wednesday, a group of experts on carbon pricing at the Ministry of Economy, Trade and Industry will hold its first meeting. The Environment Ministry earlier this month resumed discussions on carbon pricing at a subcommittee of the Central Environment Council. The two ministries plan to collaborate by sending staff to each other’s meetings.

Discussions are expected to center on such schemes as a carbon tax, to be levied according to the amounts of emissions, and a trading scheme under which companies would buy and sell their emissions allowances.

The European Union plans to introduce by 2023 a carbon border adjustment mechanism, which imposes a tax on imports from regions where emissions of greenhouse gases are not reflected in prices adequately.

[Copyright The Jiji Press, Ltd.]

Jiji Press