Japan Holds Event Launching Emissions Trading Partnership

Sharm el-Sheikh, Egypt, Nov. 16 (Jiji Press)--The Japanese government held an event to launch an international partnership on emissions trading, at the venue of the COP27 U.N. climate conference in Sharm el-Sheikh, Egypt, on Wednesday.

The initiative, which is led by Tokyo and involves over 60 countries and organizations, is aimed at developing human resources and systems to boost the trading of greenhouse gas emissions credits.

At the event, Japanese Environment Minister Akihiro Nishimura said that there is high demand for an international framework for emissions trading, and that it is important for many stakeholders to share information and have international cooperation.

Article 6 of the Paris agreement for combating climate change sets out rules for the international trading of emissions reductions. For example, if a developed country provides emissions-cutting technology to developing ones, part of the reductions can be credited to the developed country.

In order to encourage international emissions trading, it is essential to promote the understanding of rules on accurate calculation methods for emissions reductions and on reporting systems.

[Copyright The Jiji Press, Ltd.]