Japan to buy Ukraine’s excess emissions allowances
Japan on Monday signed a basic agreement with Ukraine to buy the eastern European nation’s surplus allowances for greenhouse gas emissions under the Kyoto Protocol, government officials said.
The memorandum of understanding, signed in Kiev, marks the second such agreement for the Japanese government following one with Hungary signed under the Green Investment Scheme (GIS). Monday’s agreement does not state how many tons of carbon dioxide credits the Japanese government will buy, or the payment for the transferred credits. Under the Kyoto Protocol, governments are able to sell such surplus emissions rights to other countries that overshoot their emissions targets, like Japan.
Japan, the world’s fifth-biggest emitter of greenhouse gases, is in talks with countries including Poland, the Czech Republic and Russia on similar deals, as Tokyo aims to buy 100 million tons of credits between 2008 and 2012. The Green Investment Scheme was created to force governments selling emissions rights to invest the revenue in clean energy projects. (Reuters)
ADVERTISEMENT
Karotin Developing Soil Management System in HUF 545 mln R&D...
Parliament Negates Mandatory Membership in MOK
Graphisoft Introduces Archicad Collaborate
Meet the Expat CEO of the Year Nominees
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
