Hokkaido Electric Power to Invest in Japan GHG Reduction Fund

Hokkaido Electric Power Co. announced on November 22, 2004 that it will invest U.S.$3 million in the Japan GHG Reduction Fund, or JGRF, as part of its active efforts on the prevention of global warming caused by greenhouse gas (GHG) emissions into the atmosphere. With the investment, the company expects to acquire credits equivalent to about 500,000 tons of CO2 emissions.

The JGRF was established by 33 Japanese corporations and governmental organizations led by the Japan Bank for International Cooperation and the Development Bank of Japan. It will allocate the CO2 emission credits, obtained through Clean Development Mechanism and Joint Implementation (CDM/JI) projects (Kyoto Mechanisms), among the contributors according to their share of investment. This is the first fund for the reduction of greenhouse gas emissions in Asia, and it has a U.S.$141.5 million fund pool and 10-year business operation starting in 2004.

Hokkaido Electric Power has been gaining knowhow regarding emissions credit acquisition through various activities, including investing in the Global Asia Clean Energy Service Fund in May 2004. The company intends to promote global warming prevention measures by using the Kyoto Mechanisms, in addition to making efforts for the sound operation of its nuclear power plant and efficiency improvements in its thermal power plants.



Posted: 2005/03/15 12:17:39 PM
Japanese version