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 Wednesday, 22 October 2008
Japan to Introduce Voluntary Carbon Market

The Japanese government said Tuesday that it would introduce a voluntary carbon market based on companies' pledged emissions cuts and hoped that thousands of firms would sign up to what could become a forerunner of a mandatory cap-and-trade project. The project, once it is up and running next year, is expected to be the broadest emissions market in the country.

But some say it still falls short of what Japan needs to make deep emission cuts and could backfire. Japan has been reluctant to impose mandatory limits on emissions. Despite being one of the world's most energy-efficient countries, Japan, like all wealthy nations, has come under increasing pressure from developing countries to pledge deeper cuts in emissions as part of a global effort to tackle climate change.


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