TOKYO : Japan, the world's fifth-biggest carbon dioxide (CO2) emitter, will begin a carbon pricing scheme in stages from April to encourage companies to curb emissions and achieve its goal of carbon neutrality by 2050.WHAT IS JAPAN AIMING TO ACCOMPLISH WITH THE SCHEME?The plan is aimed at speeding
TOKYO : Japan, the world's fifth-biggest carbon dioxide emitter, will begin a carbon pricing scheme in stages from April to encourage companies to curb emissions and achieve its goal of carbon neutrality by 2050.The plan is aimed at speeding up decarbonisation to tackle climate change but Japan lags behind other major economies that have already implemented similar policies.
Japan also needs to make a commitment quickly to support green investment to incentivise companies to change their behaviour, he said.The scheme, based on METI proposals and approved by the cabinet this year, consists of emissions trading and a carbon levy. If the target is not met, they will trade emissions through the market. Trading will likely be done at the Tokyo Stock Exchange, which conducted a trial from last September to January.
The introduction of emissions trading and carbon surcharges mark"a significant shift in Japan's climate change policy", said Tohru Shimizu, senior researcher at the Japan's Institute of Energy Economics. But the carbon levy and the allocation of emission allowances to power companies will start too late to help the country meet the 2030 goal of cutting emission by 46 per cent on 2013 levels, she said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japan PM's wife to visit White House in April to meet Jill BidenIt is highly unusual for a Japanese prime minister’s wife to make an overseas trip on her own. Read more at straitstimes.com.
Read more »
Japan to ease border rules for Chinese visitors as early as April - FNNTOKYO : Japan is set to ease border rules for Chinese visitors as early as April, permitting entrance without prior coronavirus testing if they have been vaccinated at least three times, Fuji News Network (FNN) reported on Thursday.The move could pave the way for the return of more Chinese tourists, who v
Read more »
Japan to ease border rules for Chinese visitors as early as April: ReportTOKYO: Japan is set to ease border rules for Chinese visitors as early as April, permitting entrance without prior coronavirus testing if they have been vaccinated at least three times, Fuji News Network (FNN) reported on Thursday (Mar 30). The move could pave the way for the return of more Chinese tourist
Read more »
Drivers, take note: ERP rates to go up by $1 at these gantries from April 3SINGAPORE - To ease congestion, the Electronic Road Pricing (ERP) rates at seven locations will increase by $1 from next Monday. Based on the Land Transport Authority’s (LTA) monitoring of traffic conditions in February, traffic has built up at several stretches of expressways, the authority said in a statement on Tuesday. In response, ERP rates will be raised at these...
Read more »
ERP rates to increase by S$1 at 7 expressway locations from April 3SINGAPORE — Electronic Road Pricing (ERP) rates will increase by S$1 at seven expressway gantries for 16 specified time periods to ease morning traffic congestion, the Land Transport Authority (LTA) said on Tuesday (March 28).
Read more »
ERP rates to go up by S$1 at 7 locations from 3 AprilWhere and when will the rates go up? Find out.
Read more »