Joint Press Release with the Ministry of the Environment and the New Energy and Industrial Technology Development Organization (NEDO)Kyoto Mechanisms Credit Acquisition Program in FY 2012

Concerning the shortfall in Japan's achievement of the commitment to The Kyoto Protocol Target Achievement Plan as decided by the Cabinet in 2008 (1.6% relative to the base year 1990 total emissions) even with Japan's full efforts to conduct the domestic measures, the plan states that "it is necessary to steadily make up for this difference by utilizing the Kyoto Mechanisms to acquire (greenhouse gas emissions) credits, while respecting the general rule that the Kyoto Mechanisms should be supplementary to domestic measures."

To meet the plan, METI and MOE commissioned the credit-acquisition effort of the Government of Japan to NEDO in FY 2006, and launched the Kyoto Mechanisms Credit Acquisition Program.*1

With regard to program implementation, the plan states that "when acquiring credits, it is important to take into account the following perspectives: (i) acquiring these while considering cost effectiveness and reducing risks, and (ii) aiming for the prevention of warming on a global scale and the support towards the sustainable development of developing nations."

In line with the plan, credit acquisition covering a total of 4,060,000 tons (CO2 equivalent) was transferred to the Japanese Government account *2 by NEDO in FY 2012.

Since the commencement of this program in FY 2006, this has brought the total credit transferred to the Japanese Government account to 93,654,000 tons (CO2 equivalent) as of the end of FY 2012.

*1 Kyoto Mechanisms Credit Acquisition Program:
Based on the Kyoto Mechanisms Target Achievement Plan, this program aims to acquire Kyoto Credits utilizing the Kyoto Mechanisms to compensate for the difference (a decrease of 1.6% relative to the base year 1990 total emissions) in Japan's achievement of the commitment to The Kyoto Protocol (a decrease of 6% relative to 1990) even with Japan's full efforts to conduct the domestic measures.
For details, please visit the following website:
http://www.meti.go.jp/english/policy/energy_environment/global_warming/kyoto_protocol.html

*2 Credits transferred to the Japanese Government account:
This is a process to transfer the acquired Kyoto Credits to the Japanese Government account in order to compensate for the difference in Japan's achievement of the commitment to the Kyoto Protocol. The transferred Kyoto credits will finally be transferred to the retirement account of the national registry so as to utilize the credits to achieve Japan's commitment.

• Reference: Kyoto Mechanisms Credit Acquisition Program in FY 2012 (released by NEDO) (in Japanese)

April 1, 2013

Global Environmental Partnership and Technologies Office, Industrial Science and Technology Policy and Environment Bureau