Carbon trading plan OK'd | The Japan Times Online
An experimental nonbinding emissions trading system was formally approved Tuesday, allowing companies to voluntarily set their own targets for reducing greenhouse gas output.
The system was endorsed by the government's Global Warming Prevention Headquarters. Companies will participate voluntarily and set reduction targets on their own.
Any company wishing to increase emissions above its self-allotted level is required to buy carbon credits from companies that are generating emissions below their own self-set levels.
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