Japan plans to buy emission credits from China
Japan plans to buy greenhouse gas credits from China as Tokyo struggles to meet obligations under the Kyoto climate change treaty to cut its emissions, a news report said on Thursday.
By Agencies |
TOKYO: Japan plans to buy greenhouse gas credits from China as Tokyo struggles to meet obligations under the Kyoto climate change treaty to cut its emissions, a news report said today.
The two governments reached a basic agreement yesterday for Japan to buy credits that China earns by reducing its greenhouse gas emissions through projects funded by Japanese loans, said the Yomiuri, Japan's largest daily newspaper.
They will seek formal agreement on the deal during Chinese President Hu Jintao's visit to Japan, expected in late March, the paper said in a non-datelined story.
China is also expected to accept another agreement on trading credits earned through Japanese-funded emissions-reduction projects at a climate conference slated for Bali next December, the Yomiuri said, citing an unnamed senior official with China's National Development and Reform Commission.
The commission is responsible for deciding whether to accept yen loans, the paper said. The report did not indicate how much carbon credit Japan hopes to buy, nor did it say why the separate agreement needs to be reached in December.
Phones rang unanswered today at the commission and at Japan's Environment Ministry.
Japan is falling far behind its Kyoto commitment to cut its emissions of carbon dioxide and other greenhouse gases to 6 per cent below its 1990 levels by 2012. Emissions in 2006, for instance, were 6.4 per cent above 1990 levels.
The two governments reached a basic agreement yesterday for Japan to buy credits that China earns by reducing its greenhouse gas emissions through projects funded by Japanese loans, said the Yomiuri, Japan's largest daily newspaper.
They will seek formal agreement on the deal during Chinese President Hu Jintao's visit to Japan, expected in late March, the paper said in a non-datelined story.
China is also expected to accept another agreement on trading credits earned through Japanese-funded emissions-reduction projects at a climate conference slated for Bali next December, the Yomiuri said, citing an unnamed senior official with China's National Development and Reform Commission.
The commission is responsible for deciding whether to accept yen loans, the paper said. The report did not indicate how much carbon credit Japan hopes to buy, nor did it say why the separate agreement needs to be reached in December.
Phones rang unanswered today at the commission and at Japan's Environment Ministry.
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Japan is falling far behind its Kyoto commitment to cut its emissions of carbon dioxide and other greenhouse gases to 6 per cent below its 1990 levels by 2012. Emissions in 2006, for instance, were 6.4 per cent above 1990 levels.
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