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Right to emit CO2. Traded among firms at 1,212 yen/ton

9, 26. 2007

The right to emit CO2 is traded among business firms at an average price of 1,212 yen per ton in Japan, it was announced by the Environment Ministry on Sept. 11, 2007. The announcement was based on the going price under the "voluntarily formed domestic emission right trading system" participated in by business firms to buy the carbon dioxide (CO2) emission right in case they fail to reduced CO2 emission to the required level or to sell if they succeed in reducing the emission below the required level. The ranged from the highest 2,500 yen per ton and to the lowest 900 yen per ton. A total of 31 business firms are taking part in the system. The ministry provides subsidies to help cover the cost for constructing energy saving equipment in return for the firms' commitment to reduce CO2 emission to a certain level.

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