Greenhouse gas emission trading (2)

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There are some examples.



1. Mitsui Bussan (a trading company)

Their design is this.

Emission trading business has been accelerated over the world now. Mitsui Bussan has their branches in the world and also has a wide variety of clients in the world. Transfer of rights to emit global warming gases requires global trade. On this point, Mitsui Bussan has perfect know-how. Mitsui Bussan is not only an agency to developing countries but also a company that carries out its own projects in developing countries and produces tradable emission from those projects. Mitsui Bussan is becoming a pioneer of an emission trading business field in Japan.

Business alliance between Mitsui Bussan and CO2e.com came up in 2001. After the alliance, the first intermediate service of emission trading was succeeded in July 2004. 200 million tons of emission credit, which was gained in Chile by means of burning methane at a hog factory, was sold to Tokyo Electric Power Company. It was the remarkable trade because of its big project size.



2. In May 2005, 13 leading companies tied up and established a joint company, Not-source Japan. They have launched agent business of emission trading. They have aimed to create a big emission trading market in Japan.



3. Tokyo Mitsubishi Securities Company

They have launched emission trading business in developing countries. They take care of paperwork of computation and establishment of emission credit to power producers of developing countries. In addition to that, they broker emission credit to developed countries and companies.





An American Situation



In November 2005, COPMOP1 was held in Montreal. (COPMOP=Conference of the Parties/Meeting of the Parties-----Conference of Parties to the U.N. Framework Convention on Climate Change)

The last day, the former American president Clinton made an address as a representative of Clinton Foundation which also deals with emission trading business.

He spoke, “I have supported Kyoto Protocol. We can’t keep the market of emission credit if we don’t have the targets of output of greenhouse gases.”

In fact, there is a private market of emission trading in the US, even if the US doesn’t have its own target of international trade because they withdrew from the Kyoto Protocol on reduction of greenhouse gas emissions.

New York is the best international broker of emission credit now and there could be a lot of possibility that the US would become No.1 about global transfer of rights to emit greenhouse gases.



If the US and Australia, that already expressed to withdraw from the Kyoto Protocol, are omitted, ratifying countries can achieve world’s total targets of emission quotas because of this emission trading system when we consider just figures..