2009 Volume 2 Issue 1 Pages 1-15
The “Japan voluntary emission trading scheme (JVETS)”, the “Credit trading scheme between the large companies and the small/medium companies”, the “Kyoto mechanism credit acquisition program (KMCAP)”, the “Experimental Nationally-Integrated Market for Emissions Trading” and the “Offset Credit Scheme (J-VER)” were evaluated and compared from the viewpoints of policy formulation process, allocation method, cost-efficiency and impact on the achievement of the target defined in the Kyoto Protocol. It was found that: 1) a robust infrastructure for the emission trading scheme is being constructed in Japan, 2) the difference of cost-efficiency between credit acquisition from overseas and from domestic GHG emission abatement projects may not be so large, 3) system design of the domestic mitigation scheme will have a substantial influence on the achievement of Kyoto targets both for large companies in Japan and for Japan as a whole, and 4) considering the co-benefits, mitigation measures utilizing approaches such as a domestic emission trading scheme should be supported for further development.
