Corporate Information

Press Release (Oct 31,2008)
The Government of Japan Approved Two CDM Projects for BioCF
                                                                      October 31, 2008

                                                   The Japan Iron and Steel Federation
                                                                          Suntory Ltd.
                                                              Idemitsu Kosan Co., Ltd.
                                                 Japan Petroleum Exploration Co., Ltd.
                                                  The Okinawa Electric Power Co., Inc.
                                                           Sumitomo Chemical Co., Ltd.
                                               Sumitomo Joint Electric Power Co., Ltd.
                                                        Tokyo Electric Power Co., Inc.

It is hereby announced that on October 17 the Government of Japan has approved two 
CDM projects for the eight Japanese companies which are contributing to the Bio 
Carbon Fund of the World Bank (BioCF). Now they are able to receive the Certified 
Emission Reductions (CERs) from the Projects. In BioCF, foreign companies, governmental 
institutions, and domestic eight companies are participating. The domestic companies 
are: The Japan Iron and Steel Federation, Suntory Ltd., Idemitsu Kosan Co., Ltd., 
The Okinawa Electric Power Co., Inc., Sumitomo Chemical Co., Ltd., Japan Petroleum 
Exploration Co.,Ltd., Sumitomo Joint Electric Power Co. Ltd., and Tokyo Electric Power 
Co., Inc..

BioCF is a fund which supports greenhouse gas reduction projects (long-term projects 
such as forest conservation, facilitating sustainable agriculture and forestry) in 
developing countries and purchase the CERs from the CDM projects.
The CERs will be distributed to BioCF participants in prorata to the size of the 
financial contribution. In order to receive the CERs domestically, it is necessary 
to have the government's approval for the projects concerned in advance. The eight 
companies have acquired this approval. 

The two projects, which the Government of Japan has approved, are as follows;
  1. Moldova Soil Conservation Project (Moldova)
  2. Facilitating Reforestation for Guangxi Watershed Management
      in Pearl River Basin (China)
We, the eight Japanese companies, will be able to receive about 510,000 tCO2 CERs 
through the projects until 2017 in Japan.

Appendix: Appendix(PDF 32KB)

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