The scheme is designed to make the world’s third-largest economy greener. Read more at straitstimes.com.
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.
Still, Japan believes the scheme, which combines emissions trading and a carbon levy, will help to turn the world’s third-largest economy greener while maintaining the global competitiveness of its industries, including heavy emitters like steelmakers. 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.
Participants - about 680 companies as of the end of January accounting for more than 40 per cent of Japan’s emissions - would be required to pledge and disclose emission-cut targets.
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