Japan needs to significantly increase its carbon tax as soon as possible in order to get on track for meeting its climate goals, according to a former senior official at the Finance Ministry.
"Carbon pricing should be made a policy priority,” Rintaro Tamaki, 68, who served as vice minister and currency chief, said in an interview. "The government should help people’s mindset change through a price signal, and get on with it quickly.”
Japan’s current levy on fossil fuel charges ¥0.76 per liter. Tamaki says that level is too low and needs to be raised significantly to encourage behavioral change among consumers.
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