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TOKYO (AFP) - Prime Minister Yasuo Fukuda said Monday that Japan would aim to cut greenhouse gas emissions blamed for global warming by 60 to 80 percent by 2050 from current levels and launch an experimental carbon market.
"Japan as a nation will try to establish a low-carbon society that we can be proud of to the world by setting a long-term target of reducing greenhouse emissions by 60 to 80 percent from the current level by 2050," Fukuda told a news conference...
"We will start the implementation of a cap-and-trade system in the domestic integrated market on an experimental basis by as early as this fall while calling for the participation of as many sectors and companies as possible," Fukuda said.
Japan is far behind in meeting its obligations under the Kyoto Protocol as its economy gradually recovers from recession.
In a bid to help Japan comply, Fukuda said that Japan would start a so-called "cap-and-trade" system on a trial basis.
A cap-and-trade system mandates cuts in greenhouse gas output and creates an economic incentive for businesses by letting them trade emissions credits.
Originally posted by jamie83
Further, I wonder if there is a connection between Japan's recession and it's efforts to comply with the Kyoto Protocol.