Trading in the market is scheduled to begin next year following the allocation of emissions allowances.
(March 31): Major companies in Japan face mandatory new rules on climate reporting under the next phase in the country’s planned national emissions trading system.
Reporting requirements begin in April for about 300 to 400 firms with annual Scope 1, or direct, emissions of at least 100,000 metric tonnes. By September 2027, the businesses — which collectively account for about 60% of Japan’s emissions — will need to submit calculations on their climate footprint and set out reduction targets.
