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Decarbonisation price signals and a level playing field for all the available energy supply options are essential to tackle emissions and increase efficiency, both for consumers and emitters. The price of products must internalise their total environmental cost so those with a lower carbon footprint become more competitive.

The Government of Japan, as a country threatened by climate change and at the same time heavily dependent on international shipping, has expressed its concerns about the extension of the EU’s emissions trading system (ETS) to international shipping at every opportunity. However, the regulation package for international shipping in the Fit for 55 published in July 2021 brings Japan much deeper concerns.

IBERDROLA welcomes the “Fit for 55 Package” The Green Deal though the “Fit for 55 Package” offers a unique opportunity to set a proper regulatory framework that boosts momentum on the most efficient renewable alternatives to enable decarbonisation and the achievement of EU climate objectives.

The full internalisation of the environmental costs is required to give consumers a price signal to incentivise the purchase of products with the lower carbon footprint (cheaper) and reduce GHG emissions efficiently. To this end, it is also important that emitters receive correct price signals to reduce emissions and undertake effective measures to reduce emissions.

Japan would first like to take this feedback opportunity to congratulate the European Commission on the broad scope of its Fit for 55 package and its high level of climate ambition. Taking this opportunity, Japan would like to share our views as follows.