Tokyo Launches Asia's First Carbon Emissions Trade Scheme

Goal is to slash Tokyo's total output of carbon dioxide by 25% from 2000 levels by 2020

Last week the city of Tokyo launched Asia's first scheme to trade carbon credits, aiming to lead Japan in the battle against greenhouse gas emissions blamed for climate change.

The mega-city of 13 million mandated that the 1,400 top-polluting factories and office buildings reduce emissions, with the aim of slashing Tokyo's total output of carbon dioxide by 25% from 2000 levels by 2020.

"We want to be a model for the Japanese government," Yuki Arata, the director for emissions trading at the Tokyo metropolitan government's environment bureau, said.

Japan, Asia's biggest economy, has pledged to cut greenhouse emissions by 25% by 2020 from 1990 levels, provided other major emitters also make sharp reductions, one of the most ambitious targets of any industrialized country.

In Tokyo, in the shorter term, the businesses will have to cut carbon dioxide emissions by 6% during the 2010-2014 period compared to their average emissions of recent years.

Under the scheme starting in 2011, companies that cannot meet the target will have to buy "right-to-pollute" credits from those that can, or will face fines and the bad publicity of having their names published.

To meet their targets, businesses can cut emissions through greater energy efficiency and by using renewable energy sources.

Copyright Agence France-Presse, 2010

TAGS: The Economy
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