Sumitomo Trust & Banking, Marubeni to jointly trade in emission rights
2, 06. 2008
Sumitomo Trust & Banking Co. and Marubeni Corp. began in February 2008 joint sales of CO2 emission right products in which the amount of the emission right is guaranteed. In many cases the amount of emission right is unpredictable until a project progresses to a certain point. The products that the two companies deal with are unique, however, in that the amount is guaranteed as originally promised to firms which propose to buy the rights.
The price for the trust is set at about 10 million yen per one unit (3,000 ton in terms of CO2). The term of the trust is about five years. In case of a shortage of the amount originally set, Marubeni offers a substitute emission right.
Mitsubishi UFJ Trust & Banking Corp. and Mitsubishi Corp. have already started trading in emission rights in small lots. Trust and banking companies are making efforts to promote such trade.