A panel from Japan's Environment Ministry has resumed talks on carbon pricing. It's the first time the experts have discussed the matter in about 18 months because of the coronavirus pandemic.

Carbon pricing is a system under which companies and households would bear the costs based on their carbon emissions.

Environment Minister Koizumi Shinjiro said for Japan to realize a carbon-neutral society by 2050, he thinks carbon pricing that can lead to economic growth is essential. Koizumi added that in-depth discussions are needed to hear views both for and against.

The panel discussed the characteristics and problems of the emissions trading system including a carbon tax.

They said if new subsidies funded by the carbon tax are introduced, it would promote corporate technological innovations and lead to growth.

There also said that discussions are needed on the impact the system could have on people's lives and corporate global competitiveness as economic activities remain slow amid the pandemic.

The panel hopes to compile its views on carbon pricing by the end of the year.