Carbon pricing in Japan to accelerate the energy transition

Amidst an energy crisis and a power supply crunch, the Japanese power sector is today experiencing unprecedented stress owing to its deep dependence on fossil fuels. The country, has recently subscribed to a G7 pledge of achieving a predominantly decarbonised power sector by 2035, but Japan’s current policy framework is insufficient to deliver this goal, and a significant acceleration in renewables deployment is required.

As the Japanese government is currently reviewing its existing carbon pricing mechanism, the report “Put a Price on It” proposes a carbon pricing mechanism that can accelerate the energy transition in Japan while reducing energy bills and increasing energy security.

This webinar will include a research presentation from the report author from Carbon Tracker on the key findings of “Put a Price on it”. This will be followed by short a presentation from InfluenceMap on corporate engagement with climate and carbon pricing policy in Japan. Finally, a panel discussion with experts from the region will explore the implications of carbon pricing reform from the point of view of industry and investors. The discussion will consider how to address the main barriers that are hampering Japan’s transition away from fossil fuels. Audience input will be welcomed with a Q&A session to conclude the webinar.

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Objective
•    Present findings of report on carbon pricing in Japan
•    Highlight the importance of policy instruments in accelerating the phaseout of fossil fuels and boost renewables deployment
•    Discuss the main barriers hampering Japan’s transition away from fossil fuels towards renewables, and propose way to solve this vicious cycle