Japan widens bilateral carbon credits strategy to developing countries

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Japan signed bilateral agreements with the Maldives and Vietnam that allow Japanese companies to earn carbon credits by launching emissions-reduction projects in the two developing countries. Japan has made an international pledge to cut GHG emissions to 25 percent below 1990 levels by 2020. Credits earned through the pacts are used towards meeting domestic CO2 targets. Japan proved to prefer the bilateral approach,the Joint Crediting Mechanism,to the Clean Development Mechanism to generating carbon credits.  In the past few months it signed similar agreements with Mongolia, Bangladesh, Ethiopia and Kenya and is seeking to reach a deal with Indonesia and India.