Japan Times published an article on Tokyo’s new greenhouse gas emissions regime:
Tokyo’s CO2 cap-and-trade may set national standard.
by Maya Kaneko
Japan Times, Thursday , April 8th.
Financial Times also has an article on Tokyo’s new program.
Excerpts from the Japan Times article:
Under the leadership of Gov. Shintaro Ishihara, Tokyo aims to slash its carbon dioxide and other heat-trapping gas emissions by 25 percent compared with 2000 levels by 2020. The program caps energy-related carbon dioxide emissions from some 1,330 offices and factories in the capital and allows for trading of emissions credits.
About 1,330 offices, commercial buildings and factories that annually consume the crude oil equivalent of more than 1,500 kiloliters of energy will be required to cut total carbon dioxide emissions over the fiscal 2010-2014 period by 6 percent to 8 percent from base-year levels.
Base-year levels are calculated from average emissions over a past period of three consecutive years between fiscal 2002 and 2007. Office buildings face an 8 percent target and factories are subject to a 6 percent goal.
In the fiscal 2015-2019 second phase, they will be required to slash emissions by 17 percent from their base-year levels.
To meet the targets, offices and factories can either make efforts on their own, such as updating to energy-saving equipment, or purchase emissions credits from other entities that have reduced their carbon dioxide output by more than the obligated levels in a system known as cap and trade.
They can also buy credits earned through reduction efforts by small and medium-size companies in Tokyo and the entities’ large-scale branch offices outside the capital. Renewable energy certificates issued by power generators can be also purchased.