Japan’s greenhouse gas emissions hit a record high making Japan the world’s fifth-largest CO2 producer and putting them at risk of an embarrassing failure to meet its Kyoto target over the next four years. The increase of 2.3 percent last year was largely due to the closure of Japan’s biggest nuclear power plant after an earthquake.

Emissions rose to 1.371 billion metric tons of CO2 equivalent in the Japanese fiscal year through March. The year before Japan finally saw a decline of 1.3 percent decline. Japan needs to cut emissions by an estimated 13.5 percent to hit its 2008-2012 target under Kyoto of down 6 percent from 1990 levels.

The task of cutting emissions may be its worst since the onset of a global recession, a diversion of governments’ focus away from climate change the investment needed.

Japan is not going to make their goal.

Source: Yahoo!

The Japanese government has taken the 1st step toward implementing carbon credit trading. The system will allow large companies to gain carbon credits by assisting small and midsize companies in reducing their emissions. “Firms that come in below their designated emission levels can sell the unused portions as carbon credits to businesses that exceed their caps.”

Tokyo is taking applications from interested businesses and is planning to hold briefings in eight locations around the nation over a 30-day period. Along with the briefings, matchmaking meetings. Fast dates. eHarmony for businesses wanting to fight global temperatures.

Tokyo is also collecting ideas for cutting global warming gas emissions such as one firm’s plan to introduce a fuel cell that can convert food waste into methane gas for energy and a shopping mall equipped with solar panels.

Source: Nikkei (sub req)

Image courtesy of curtisperry