Japan signs one more offset deal with Cambodia

Japan and Cambodia signed a deal under the programme known as Joint Crediting Mechanism, that allows Japanese companies to earn carbon credits by paying for GHG emission reduction projects in Cambodia, according to Reuters.
Japan concluded similar bilateral offset carbon deals with several developing countries, including Indonesia, Costa Rica, Maldives, Vietnam, Mongolia, Bangladesh, Ethiopia and Kenya. Credits earned through the mechanism are used to meet Japan’s domestic CO2 targets.
In November 2013 the Japanese government lowered the country’s emission target for 2020 from 25 percent below 1990 levels to 3.5 percent below 2005 levels justifying the target cut with the expected total shutdown of nuclear power plants decided after 2011’s Fukushima disaster, but recently it approved a new energy policy plan proposing again nuclear power as key energy source.