Resources

Introduced a CO2 levy under the Federal Act on the Reduction of CO2 Emissions covering heating and process fuels as part of a comprehensive climate policy package to decrease the use of fossil fuels.

Targets plants with boilers and turbines whose emission sources sum 50MW or more of nominal thermal power generation.

Introduced in 1991, and has gradually been increased to $140 US/tCO2e in 2018, the highest level in the world.

Applies to industrial entities, largely comprising companies from the cement, chemicals, pharmaceuticals, paper, refinery, or steel sectors. It now covers about 11% of the country’s total GHG emissions.

Established in April 2011 as part of the Saitama Prefecture Global Warming Strategy Promotion Ordinance. Large buildings and factories in Saitama are required to reduce emissions by 15% or 13% in its second compliance period (FY2015-2019).

Launched in 2010 as Japan’s first mandatory ETS. Under the ETS, large offices and factories are required to reduce emissions by 15% or 17% in its second period (FY2015-FY2019). The target in the third period (FY2020-2024) is expected to be 25% or 27%

Originally designed to cover the whole economy, it has the broadest sectoral coverage of any ETS, including forestry as a source of both emissions and units.

Launched in 2015, and in 2018 Phase II started alongside a revision of Korea’s 2030 GHG reduction roadmap. The KETS covers more than 70% of the country’s emissions.