Abstract
Under the Kyoto Protocol, any Annex I country is expected to achieve its commitment target through not only reduction in its domestic GHG emission but also utilisation of the Kyoto Mechanisms. An examination of “The Kyoto Protocol Target Achievement Plan” established by Japanese government implies that Japan's compliance with the protocol would highly depend on the Kyoto Mechanisms. Since the Kyoto Protocol can be seen as the first step towards the long-run emission reduction in the future, it is likely that Japan faces even further GHG emission reduction target in the post-Kyoto regime, where a dependence of “Kyoto Mechanisms”, rather than domestic reduction, could be deepened to achieve the target. Avoiding such situation, a development of “break-through” new technologies to reduce GHG emissions is extremely desired.
