Japan to start voluntary emissions trading

A total of 501 companies applied for voluntary participation in the Japanese government’s trial implementation of its domestic emissions trading scheme, which is to start before the end of the fiscal year ending March 31, 2009. The participating companies can buy carbon credits from other companies if they are unable to meet their targets, while companies that exceed their targets can sell their carbon credits. The applications are divided into various categories: energy, industrial, rubber and electrical and electronics. The participants for this fiscal year will report their emission volumes by the end of August, and should end their carbon trading by the end of the fiscal year in March 2010. (January 1, 2009)