Reuters AlertNet Lite - Japan to study carbon trading for companies-report

Reuters AlertNet Full site

NEWSDESK

Japan to study carbon trading for companies-report

05 Aug 2007 02:51:36 GMT
Source: Reuters

TOKYO, Aug 5 (Reuters) - Japan is set to start discussions on letting private companies buy and sell greenhouse gas emissions credits, the Yomiuri Shimbun daily said on Sunday.

Japanese Prime Minister Shinzo Abe has proposed halving global greenhouse gas emissions by 2050 but Japan is struggling to meet its own target of cutting emissions by 6 percent by 2012, when the Kyoto Protocol's first phase ends.

The Environment Ministry is expected to propose starting a domestic transfer system for greenhouse gas emissions credits sometime this month, arguing that Japan should follow a growing global trend, Yomiuri quoted sources as saying.

The European Union adopted such a system in 2005 and late last month, the Australian Climate Exchange launched a new climate trading platform.

Officials at the Environment Ministry were not available for comment.

Japan's most powerful business lobby, the Japan Business Federation (Keidanren) has strongly opposed introducing a carbon trading system, saying that it would be impossible to fairly allocate the credits.

Japanese business groups have dragged their feet on other energy proposals, such as a carbon tax, out of concern for their economic impact.

But Japan's emissions were 14 percent above its Kyoto goal as of March 2006.

AlertNet news is provided by

Email this article Send comments

NGO latest

• ADRA Responds to Earthquake in Japan
ADRA - International

• Severe Poverty in the UK
Save the Children - International Alliance

• Participating in the broader health agenda
International HIV/AIDS Alliance - UK

MORE >>

Latest news

• Japan to study carbon trading for companies-report

• FACTBOX-Bush adds new track to UN climate bid

• ANALYSIS-Nuclear plant fires stoke nuclear power debate

• US calm on market fallout, presses China on yuan

• ANALYSIS-Asia's ARF gives itself teeth, but may not bite

MORE >>

Last updated:Sun Aug 5 02:52:13 2007