Japan buys excess carbon credits from the Ukraine

Japan has concluded the first ever inter-government carbon trading deal with Ukraine covering 30 million tonnes of Assigned Amount Units (AAUs).

The Ukraine will deliver the AAU emission rights, which each represent a tonne of carbon dioxide (CO2) equivalent, to Japan which needs to offset the fact that its emissions rose 8.7% in the year up to March 2008 from 1990 levels.

It is the first trading deal of its type under the Kyoto Protocol, but Japan says it hopes to complete another similar scheme with a separate eastern European country in April.

The Ukraine will use the unspecified proceeds from the sale for environmental measures that will boost renewable energy projects and reduce…

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?

Login

Recharge App


Dowload the Recharge Mobile App
Get the free Recharge subscriber app on your device running iOS or Android.
Read Recharge anytime and anywhere.
Recharge IOS App