In the Media
Japan – The rising sun for carbon markets: part II
October 21, 2011
Ecobusiness.com
Japan’s national carbon offsetting system provides third-party certification standards for measuring, reducing, and offsetting carbon emissions; funds a variety of pilot carbon offset projects in Japan; oversees carbon offset providers; and verifies the carbon credits produced by domestic offset projects through the groundbreaking Japan Verified Emission Reduction (J-Ver) Scheme.
Credits from forestry projects account for more than three-quarters of the ~100,000 tonnes of carbon emissions reductions credits issued against almost 150 projects upto May 2011 – with sustainable forest management projects the most common sub-group. This positions the J-Ver Scheme as a valuable model for the evolving international regulatory system for REDD+ (Reduced Emissions from Deforestation and Degradation) offset projects.
Instead of measuring additionality on a project-by-project basis as in the CDM (which is complicated, expensive, and time-consuming) the J-Ver Scheme first creates a “positive list” of project types to promote as a matter of government policy. This novel approach provides a valuable example of how domestic offsets may be included in Nationally Appropriate Mitigation Actions favoured by many seeking to improve Kyoto mechanisms.
J-Ver credits are voluntary and prices have ranged from ¥5,000 to ¥30,000” (US$64 – $388; £40 – £243).
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Keywords: Asia, carbon, Forest, J-VER, japan, REDD, verified