Latest Phase of Japan's Voluntary Emission Trading Scheme Reduces 70,811 Tons of CO2

Japan's Ministry of the Environment announced on January 18, 2013 a total reduction of 70,811 tons of carbon dioxide emissions (t-CO2) during the sixth phase (implemented in fiscal 2011) of Japan's Voluntary Emission Trading Scheme (JVETS). Participants in this phase included 58 businesses with commitments to reduce emissions and 86 participants who traded during the year or as former participants had made previous commitments and banked their excess emission allowances. A total of 46 transactions in emission allowances were implemented, with a traded amount of 30,481 t-CO2.

The ministry launched JVETS in fiscal 2005 to gain knowledge and experience regarding a domestic emission trading system and to support voluntary CO2 reduction activities by businesses. To date a total of 389 participants have made commitments to reduce emissions.

Related JFS article:
Japan's Voluntary Emissions Trading Scheme Shows Potential of SMEs to Greatly Cut CO2 Emissions