Abstract

The Japanese media has recently reported that a new bill named as the "CCS Business Act (title being tentative)" is expected to be submitted to the regular session of the National Diet of Japan in 2024. This plan of a bill of "CCS Business Act" is one of the outcomes of the discussion by the Japanese government towards the commercialization of carbon capture and storage ("CCS") projects over these last few years with a view to achieving the goal of becoming "carbon neutral". The Ministry of Economy, Trade and Industry ("METI") has led the discussion for formulating the said "CCS Business Act" by referring to precedents in overseas countries such as the EU. In this article, we provide some of our thoughts regarding the concept of the "CCS Business Act" based on the already published government documents and announcements available so far.