29 May '11, 7am

Japan issues first domestic carbon credits

Japan has approved its first set of domestic carbon credits, authorising three energy efficiency projects designed to cut annual carbon emissions by an estimated 990 tonnes. Under the carbon trading scheme, carbon credits will be issued to convenience store chain Lawson, which funded energy-efficient lighting in classrooms at the University of Tokyo, and to Tokyo Electric Power Co for installing geothermal heat pumps at spa facilities in Yamanashi prefecture. Meanwhile, Sumitomo Mitsui Banking Corp (SMBC) and gas utility Shizuoka Gas will receive carbon credits after converting a boiler at a domestic canned food producer to use natural gas instead of oil. Under the domestic carbon credit system, large Japanese companies are awarded emission credits for undertaking projects that help smaller firms and other entities to reduce carbon dioxide emissions. They can then either u...

Full article: http://www.businessgreen.com/bg/news/1805880/japan-issues...

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