Tuesday, October 21, 2008
At the meeting, a decision was made on "experimental introduction of an integrated domestic market of emission trading" of CO2 -- a greenhouse gas. Specifically, it includes provisions that enable corporations to carry out emission reduction activities in line with their own reduction targets, as well as to trade caps and credits for the purpose of achieving the targets. It also allows the participating companies to adopt either quantified or intensity targets. It aims to develop a domestic integrated market that is reflected in the action plans of the participating companies, contributing to the achievement of the Kyoto Protocol targets. The recruitment of companies for this scheme will run from this month until the middle of December.
In his concluding address, Prime Minister Aso said, "We, in this day and age, have a responsibility to address the global warming issue. The severity of the current economic situation makes me feel that it is all the more necessary to make full-fledged efforts to tackle environmental issues, including making investments to that end. The first point in our undertakings is to view countermeasures to global warming not as costs but as investments in the future, with a view to achieving a low-carbon society that is compatible with economic growth. The second point is to have a can-do attitude and make a firm determination, rather than contemplating reasons to justify inaction. Thirdly, we should establish international rules to which all the major countries should be subject. I take this opportunity to once again ask the relevant ministers to see to it that each ministry and agency actively makes efforts, in cooperation, to advance the undertakings.