Japan launches carbon credit market trial

Tokyo, Sept. 22 (Jiji Press) — Japan’s Ministry of Industry on Thursday launched a trial of a carbon credit market on the Tokyo Stock Exchange, a system for trading carbon dioxide emission credits primarily intended for businesses.

Trading of CO2 emission credits took place in an open market for the first time in Japan, where credit transactions had been conducted through direct negotiations between buyers and sellers.

In the new market, emission prices and quantities are disclosed, unlike the trading-based trading system. The ministry hopes to promote trade in the hope that the entire Japanese business community will work towards decarbonization.

A total of 145 companies, local governments and others have signed up to participate in the trial so far.

The carbon credit market “is one of our steps towards realizing a low-carbon society,” said Akira Kiyota, group CEO of Japan Exchange Group Inc. <8697>or JPX, the parent company of the TSE.

[Copyright The Jiji Press, Ltd.]