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Japan Aims to Start Bilateral Carbon Offset Program in 2013

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Nov. 29 (Bloomberg) -- Japan aims to start a program to work with companies to reduce greenhouse gas emissions in developing countries in 2013, according to a new set of action plans to be introduced at the climate talks in Durban today.

The government has been preparing the bilateral offset credit mechanism program to cut emissions by establishing energy management systems and forest protection projects with Japanese companies such as Toshiba Corp. and Marubeni Corp. in developing countries. This is the first time that Japan has said when it wants to start the program.

Japan opposes an extension to the greenhouse gas restrictions when the Kyoto Protocol treaty expires next year. China and India say setting new limits under the treaty is essential to keep the talks alive.

Japan has started feasibility studies to run the program in 28 countries and plans to expand consultations with more nations than the five it is currently negotiating with, according to the document.

Japanese Prime Minister Yoshihiko Noda today reiterated the country’s calls for a new global framework, instead of extending Kyoto’s restrictions.

“We must hurry up in preparing a fair and effective legal framework so the world can work together on climate change,” he said during a meeting of cabinet ministers to approve the action plans.

To contact the reporters on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net; Takashi Hirokawa in Tokyo at thirokawa@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net.

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