Bill on Promoting a Smooth Transition to a Decarbonized Growth Economic Structure

Under the proposed Bill on Promoting a Smooth Transition to a Decarbonized Growth Economic Structure, from 2028, Japan aims to commence levying a surcharge on fossil fuel importers, such as refiners, trading houses and electric utilities, according to the amount of carbon dioxide derived from the fossil fuels they import. Further, from 2033, an auction scheme is proposed to be introduced for power generation utilities with large emissions for allocation of an emissions quota.

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