The "GX = Green Transformation Promotion Bill," which includes the introduction of carbon pricing that requires companies that emit carbon dioxide to bear the financial burden, was approved by the Committee on Economy, Trade and Industry of the House of Representatives with a majority of votes.
The GX Promotion Bill introduces "carbon pricing," which places a price on carbon dioxide emissions reduced by companies and others, and requires companies to bear the financial burden by purchasing from the market through emissions trading for the amount that has not achieved the reduction target.
In addition, we will ask electric power companies and oil distributors that import fossil fuels to levy them according to their emissions.
In addition, it includes the issuance of a new government bond, the GX Economic Transition Bond, for 10 years from the new fiscal year to support private investment toward decarbonization.
Regarding the bill, the ruling parties agreed to revise the bill with the Japan Restoration Association, and the supplementary provisions of the bill were revised so that the necessary legislative measures would be taken within two years after the enforcement of the law toward the introduction of carbon pricing, and that the timing and target of the system could be flexibly reviewed based on domestic and overseas economic trends and other factors.
The bill was voted on by the Committee on Economy, Trade and Industry of the House of Representatives on the 2th, and was approved by a majority of the Liberal Democratic Party and New Komeito, the Japan Restoration Party, and the National Democratic Party.
It is expected to be approved at the plenary session of the House of Representatives on the 29th and sent to the House of Councillors.