{"id":7109,"date":"2010-12-29T17:12:12","date_gmt":"2010-12-29T17:12:12","guid":{"rendered":""},"modified":"2010-12-29T17:12:12","modified_gmt":"2010-12-29T17:12:12","slug":"Japan-postpones-launch-of-emission-trading-system","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=7109","title":{"rendered":"Japan postpones launch of emission trading system"},"content":{"rendered":"

Japan on Tuesday postponed the creation of a greenhouse gas emission trading system by a year until after April 2014 in the face of strong resistance from the business lobby, news reports said.<\/p>\n

<\/strong>The centre-left government of Prime Minister Naoto Kan had planned to launch the system — in which companies would essentially buy and sell ‘licences to pollute’ — in the fiscal year starting in April 2013.<\/p>\n

<\/strong>But his environment and other ministers decided to postpone the plan, saying the country will first “carefully consider it,” <\/strong>Jiji Press and Kyodo News reported. Immediate confirmation was not available.<\/p>\n

A carbon-trading system sets a cap on the pollutants companies can emit and then forces heavy polluters to buy credits from companies that pollute less — creating financial incentives to cut emissions.<\/p>\n

<\/strong>Japan has long championed the Kyoto Protocol on reducing greenhouse gas emissions, named after its ancient capital.<\/p>\n

<\/strong>But Japan opposed its proposed extension at a UN meeting in Mexico this month,<\/strong> calling it unfair because it does not include 70 percent of the world’s emissions, with top polluters China and the United States absent.<\/p>\n

China, the world’s largest emitter, has no obligations under the Kyoto Protocol as it is considered a developing country.<\/strong> The United States, alone among rich nations, has rejected the treaty.<\/p>\n

SOURCE<\/a>
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