The Japan Electric Power Exchange is all set to launch a to help the country’s electricity utilites meet their emission targets. Though the details are yet to be finalized, the carbon credits will be traded in yen/metric ton through a web-based application. Companies such as and are expected to trade through the program.
Prime Minister, Yasuo Fukuda would eventually like to launch a comprehensive trading program but wants to use the trial trading to see if it runs smoothly.
Japan is the fifth largest polluter in the world and it has been under pressure to take serious steps to reduce its carbon footprint. The carbon trading initiative is part of its plan geared towards meeting the country’s long term goal of cutting down greenhouse gas emissions by 60 to 80% by 2050.
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