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ECONOMY > Energy

Japan aims to spur carbon trading under J-Credit scheme

  • September 7, 2021
  • , Jiji Press , 8:45 p.m.
  • English Press

Tokyo, Sept. 7 (Jiji Press)–Japan’s industry ministry has relaxed requirements for small businesses to participate in its J-Credit carbon trading scheme, aiming to invigorate the system to meet the goal of achieving carbon neutrality by 2050.

 

The ministry will also ask manufacturers of energy-saving devices to call on client companies to participate in the scheme, as many companies do not know about the scheme even though they are buying energy-saving devices.

 

The ministry and others have been running the J-Credit program since fiscal 2013, in an effort to monetize corporate efforts to reduce emissions.

 

Under the scheme, the government certifies the amount of greenhouse gas emissions reduced or absorbed through the introduction of energy-saving devices, renewable energy projects and forest management.

 

Participants can sell the amount of emission reductions as carbon credits, which buyers can use for such purposes as carbon offsetting and to promote themselves as environmentally friendly. The sellers are able to invest more in energy saving by using the proceeds.

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