Japan power firms to buy CO2 credits; goals still afar
Eight of Japan's 10 power firms failed to meet their self-imposed emission-cutting targets last year, adding to pressure on them to buy more carbon rights from abroad than planned in the coming years.
Eight of Japan's 10 power firms failed to meet their self-imposed emission-cutting targets last year, adding to pressure on them to buy more carbon rights from abroad than planned in the coming years.
Despite poor utilisation of carbon-free nuclear plants, weak power sales due to the economic slump helped the power sector to reduce CO2 emissions by 5 percent in the business year to March 2009.
Electricity demand is seen staying sluggish for now. But falling power sales alone would not be enough for the sector to meet its carbon intensity goals -- each power firm has a target to emit 20 percent less CO2 per kilowatt hour than the 1990 levels on average in the five years to March 2013.
In their first year, all but Kyushu Electric Power Co and Shikoku Electric Power Co failed to meet their targets, data provided by the power companies showed.
Those targets, although not legally binding, have become a core part of the Japanese government's commitment under Kyoto.
Japan, the world's fifth-biggest emitter, has promised to reduce greenhouse gas emissions by 6 percent below 1990 levels over 2008-2012, the period covered by Kyoto.
The power sector accounts for about 30 percent of the nation's emissions.
Click here to read more
