Seeking to become carbon neutral by 2050, Japan is following a similar path to other major economies. In April, it began the phased introduction of"Japan's industry ministry has been cautious about implementing emissions trading, but we have made a major turn to utilize the carbon credit market to achieve our carbon neutral goal," Yasutoshi Nishimura, the minister of economy, trade and industry, said after the opening ceremony at the TSE.
Under the J-Credit system, the government certifies as a "credit" the amount of greenhouse gas emissions, such as CO2, reduced or removed through efforts to introduce renewable energy or energy-saving equipment or managing forests. A total of 188 entities had registered as participants as of Sept. 19, with the number still growing, according to the TSE.