October 31, 2008
The Japan Iron and Steel Federation
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
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)