The Japan Bank for International Cooperation and the Japan Institute for Overseas Investment launched a carbon credit trading platform in order to facilitate a carbon credit market in Japan. The parties expect the carbon credit demand for small lot in the country to grow in the near future.
The International Transaction Log (ITL) system links the UN Framework Convention on Climate Change with the Japanese national registry. The ITL system went online in November 2007.
As a result, it became possible for Marubeni to transfer the issued carbon credit from the pending account in the clean development registry to its account in the Japanese registry and deliver the credit in Japan.
The firm issued carbon credit project information to the carbon credit trading platform and made a carbon credit deal of 10,000 tons of carbon dioxide equivalent.
