One of Japan's major general trading companies, the Marubeni Corporation, announced September 21, 2007, that it is the first Japanese company to join the European Climate Exchange (ECX), the world's largest platform for emissions trading.

Since its launch in April 2005, the ECX's trade volume has increased dramatically. In 2006, 452 million tons of carbon dioxide (CO2) were traded as EU allowances (EUA)--emissions credits in the EU--with an underlying market value of approximately 10 billion euros. Currently, more than 80 companies, including leading European businesses, are participating in this exchange marketplace. The ECX will shortly launch futures and options contracts on certified emissions reductions (CERs)--emissions credits defined under the Kyoto Protocol--which will further stimulate emissions trading in the EU as well as in the international arena.

Marubeni also joined the International Emissions Trading Association (IETA), a non-profit organization dedicated to establishing an international emissions trading market, and plans to actively engage in building an international emissions trading framework.

Through overseas projects to cut greenhouse gas emissions, Marubeni has purchased CERs and sold them to Japanese clients. The company aims to strengthen its functions and system in the purchasing and sale of emissions credits, while flexibly responding to diversifying needs in the carbon market.

http://www.marubeni.com/news/2007/070921c.html
http://www.ecx.eu/

Posted: 2008/01/28 03:52:12 PM
Japanese version

TAG Global warming , Non-manufacturing industry