Japan Ministry Panel Proposes Emissions Trading Market

Politics

Tokyo, Aug. 5 (Jiji Press)--An expert panel of Japan’s industry ministry proposed Thursday creating a carbon dioxide emissions trading market in which companies with voluntary emissions reduction goals would participate.

The proposal was included in an interim summary of discussions at the panel, which has been studying carbon pricing mechanisms since February.

The ministry plans to draw some conclusion on a carbon pricing system by the year-end.

But coordination will be needed within the government, with the Environment Ministry discussing forcible mechanisms to promote emissions reductions, such as a carbon tax, to be imposed according to the amounts of emissions, and an emissions trading system joined by all related companies.

The industry ministry panel’s proposal calls for creating a carbon-neutral top league consisting of companies that have set voluntary goals of CO2 emissions cuts.

[Copyright The Jiji Press, Ltd.]

Jiji Press