Policy status:In Force
Date Effective:2002
Policy Type:Policy Support, Voluntary Approaches, Economic Instruments>Market-based instruments
Policy Target:Framework/ Multi-sectoral Policy, Carbon Capture Storage
Agency:Ministry of Economics, Trade and Industry
Description:The Ministry of Economics, Trade and Industry (METI) plans to establish an online exchange for promoting greenhouse gas emissions trading among Japan-based, private-sector companies. METI plans to develop an experimental trading scheme with approximately 20 companies before formally starting operating the trading system in 2003. The programme applies to domestic and foreign firms with operations based in Japan. Under the scheme, companies participating in the programme will submit emissions reduction plans that run through the end of 2007. METI will then issue emission-credit certificates based on these plans. Participating companies that reduce emissions beyond their original targets will be eligible for government assistance of up to half the costs associated with the improved reduction. Companies that are unable to achieve their emission reduction targets will be allowed to purchase certificates from companies that have excess credits. On 11 July 2006, the Japanese cabinet revised the countrys GHG emission reduction programme to enable the government to purchase emissions credits from other countries.

Last modified: Mon, 23 Jul 2012 14:22:58 CEST