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Japan Aims to Start Carbon Trade in 2013, Panel Says (Update1)
2010-08-31 10:34:21.589 GMT
(Updates with schedule on phases in second paragraph.)
By Shigeru Sato and Michio Nakayama
Aug. 31 (Bloomberg) -- Japan plans to start emissions
trading in 2013, as the government revived a climate-protection
draft law that was scrapped earlier this year when then Prime
Minister Yukio Hatoyama resigned.
A panel under the environment ministry recommended starting
trading in two phases, one from April 2013 and the other three
years later, according to a proposal circulated today in Tokyo.
Efforts to pass climate legislation in Australia and the
U.S. have stalled over criticism of proposed emission-trading
programs. In Japan, power utilities, steelmakers and other
industry groups have said capping carbon emissions will hurt
domestic companies as they compete with peers in China and India
that won't face the same pollution limits.
Hatoyamo's government pledged to cut Japan's emissions of
greenhouse gases by 25 percent from 1990 levels by 2020 before
his resignation in June ended deliberations on a climate bill
that would have introduced a cap-and-trade system.
The trade ministry yesterday proposed an increase in fossil
fuel taxes from April next year to help tackle global warming.
The government imposes a tax on imports of oil of 2,040
($24.17) yen per kiloliter, while 1,080 yen is levied on every
metric ton of liquefied natural gas, according to the trade
ministry. A tax of 700 yen per ton is imposed on coal.
For Related News and Information:
Top Environment stories: GREEN <GO>
Top Japan stories: TOP JN <GO>
Global energy statistics: ENST <GO>
--With assistance from Yuji Okada in Tokyo. Editors: Aaron
Sheldrick, Ryan Woo.
To contact the reporters on this story:
Shigeru Sato in Tokyo at +81-3-3201-3294 or
ssato10@bloomberg.net;
Michio Nakayama in Tokyo at +81-3-3201-2177 or
mnakayama4@bloomberg.net.
To contact the editors responsible for this story:
Amit Prakash at +65-6212-1167 or
aprakash1@bloomberg.net;
Clyde Russell at +65-6311-2423 or
crussell7@bloomberg.net.
