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TOKYO, Jun 22, 2009 (AsiaPulse via COMTEX) In its first entry into the Japanese market for carbon trading , Mitsui & Co. (TSE:8031) will help a Mie Prefecture lumber mill lower its carbon dioxide emissions, generating credits Mitsui will be able to later sell to firms looking to offset their CO2 output.
Mitsui announced the tie-up with Nishimura Sawmill Co. on Friday. A boiler powering one of Nishimura Sawmill’s wood dryers now runs on kerosene. It will be replaced with one that burns wood waste, resulting in an estimated 18,000-ton reduction in the plant’s CO2 output through March 2013.
Mitsui will aid in planning and buy credits for the amount of the reduction. The partnership is based on a government scheme that allows large companies that help smaller ones cut their greenhouse gas emissions to claim the reductions as their own.
Mitsui is involved in major emissions-trading deals abroad, but has lagged behind Japanese rivals Mitsubishi Corp. (TSE:8058) and Marubeni Corp. (8002) at home.
(Nikkei) rw
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Mitsui and Company Ltd. ADS (MITSY) has Short Term PowerRatings of 6. Details on Mitsui and Company Ltd. ADS (MITSY) Short Term PowerRatings is available at This Link.
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on Jun 23rd, 2009
@ 4:48 am:
That’s smart operation, for sure. Making a buck from genuine green efforts is the way forward, and is something that has a real future.