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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 FY2013

To achieve the emissions reduction commitments under the Kyoto Protocol, the Ministry of Economy, Trade and Industry (METI) and the Ministry of the Environment (MOE) have been implementing a credit acquisition program based on the Kyoto Mechanism since FY2006 and commissioned the effort to the New Energy and Industrial Technology Development Organization (NEDO).

Credit acquisition outcomes in FY2013 have been published and METI hereby announces the following relevant information.

Outline

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) despite Japan’s full efforts to undertake 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 achieve the goals of the plan, METI and MOE commissioned NEDO to undertake the credit-acquisition effort of the Government of Japan in FY2006, and launched the Kyoto Mechanisms Credit Acquisition Program.*

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 risk, and (ii) aiming for the prevention of warming on a global scale and support towards the sustainable development of developing nations.”

In line with the plan, credit acquisition, covering a total of 3,839,000 tons (CO2 equivalent), was transferred to the government by NEDO in FY2013.

At the end of FY2013, NEDO has finished acquiring the credits set as a goal in the Kyoto Mechanisms Credit Acquisition Program, and the total amount of credit transferred to the government comes to 97,493,000 tons (CO2 equivalent) during the period of the program, almost achieving the government’s goal of about 100 million tons (CO2 equivalent).

*Note: Kyoto Mechanisms Credit Acquisition Program:
Based on the Kyoto Mechanisms Target Achievement Plan, the Kyoto Mechanisms Credit Acquisition Program aims to acquire Kyoto Credits utilizing the Kyoto Mechanisms to compensate for the difference (a decrease of 1.6% relative to the total emissions of the base reference year of 1990) in Japan’s achievement of the original commitment to the Kyoto Protocol (a decrease of 6% relative to 1990) despite Japan’s full efforts to undertake domestic measures.

For further details, please visit the following website:
http://www.meti.go.jp/policy/energy_environment/global_warming/kyomecha_main.htm (in Japanese)

Reference:

Kyoto Mechanisms Credit Acquisition Program in FY2013 (released by NEDO):
http://www.nedo.go.jp/activities/ZZJP2_100048.htmlexternal link (in Japanese)

Release date

April 1, 2014

Division in Charge

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

Related Information

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Ministry of Economy, Trade and Industry
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