WSJ: Japan is "worried that it is spending too much on carbon-credit programs"

Japan May Revise Plan to Cut Carbon Emissions - WSJ.com

TOKYO—Japan is reconsidering plans to cut carbon-dioxide emissions by 25% by 2020 due to a rethinking of its energy future, and the country is worried that it is spending too much on carbon-credit programs, a senior government official said on Wednesday.
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"Japan's wealth has been draining out" due to buying carbon credits from East European countries and China, [Kazushige Nobutani, director of the Global Environmental Affairs Office at the Ministry of Economy, Trade and Industry] said.

METI estimates Japan has paid as much as ¥800 billion ($10.4 billion) to buy 400 million metric tons of carbon credits.