The Japan That Says No; Rejects Carbon Trading – “Major Setback”

Japan has decided to back out of carbon trading, likely from intense pressure from industry. This will no doubt disappoint many in organized crime, read here and here.

According to the online Environmental Leader:

A September survey of Japan’s largest business lobby group, found that 95% of companies surveyed oppose carbon trading, citing competition from countries like India and China that are not bound by similar pollution limits, reported Bloomberg.”

Japan’s government also said it won’t support an extension of  the Kyoto Protocol after its greenhouse-gas emissions targets expire in 2012, calling the treaty “outdated” because it only regulates 27 percent of global emissions, and doesn’t include the U.S. and China, reported Bloomberg.”

Meanwhile the Financial Times Deutschland here reports the same in a piece called: CO2 Trade No Longer In Vogue. The FTD blamed pressure from industry for leading to Japan’s decision to back out of the scheme, and added:

The decision is a major setback for the once praised system that was touted as a way to achieve environmental protection using  market economy means.”

Turns out that the Japanese have determined that it’s not very market economy-friendly after all.

The USA, under its newly elected Congress, have also signalled it will reject any trading scheme. Japan meanwhile is planning hefty taxes on carbon fuels and is considering energy feed-in traiffs like those used in Germany for supporting renewable energy.

8 responses to “The Japan That Says No; Rejects Carbon Trading – “Major Setback””

  1. DirkH

    In the meantime, German economy minister Brüderle is furious at environment minister Röttgen for not resisting the attack by the European Commission to reduce the number of free carbon credits for German steel makers. Cost to the companies 150 mill. Euro per year. News from 17th Dec 2010:

    http://www.handelsblatt.com/unternehmen/industrie/rechtevergabe-emissionshandel-kommt-industrie-teurer-zu-stehen;2715493

  2. R. de Haan

    There will come a moment that industry and the population are not going to take it anymore.

  3. itsfaircomment

    Thanks for the mention, as the criminality of ‘carbon trading’ continues to rear its ugly head – and the public pay the criminals involved….

    Here comes the next bubble – carbon trading (feb 2010)
    http://itsfaircomment-climategate.blogspot.com/2010/02/here-comes-next-bubble-carbon-trading.html

    worth a read again……

    regards,

  4. Edward.

    Great article, till this:

    Japan meanwhile is planning hefty taxes on carbon fuels and is considering energy feed-in tariffs like those used in Germany for supporting renewable energy.

    Whats wrong with ’em?

    Industry says no, then Japanese gov says, “OK”, then in the same moment, Japanese Gov…says, “we’ll clobber industry anyway”….where’s the logic in that??

    1. Nonoy Oplas

      I think it’s more of the Japanese government’s huge public debt, about 140 percent of GDP, about 2x that of UK. The Jap government is panicking where to get extra taxes as the debt keeps piling up every year. Whatever new revenues to be realized from carbon taxes would be used to retire some debt, not so much to “save the planet.”

  5. DirkH

    O/T About Crispin Tickell, at Delingpole’s blog. UK policy adviser under Thatcher. If the quotes in the article are correct, this is hard stuff even by Malthusian’s standards.
    http://blogs.telegraph.co.uk/news/jamesdelingpole/100069775/the-man-who-invented-global-warming/

  6. R. de Haan

    New Paper: No correlation between temperature changes and CO2
    http://wattsupwiththat.com/2011/01/01/new-peer-reviewed-paper-absence-of-correlation-between-temperature-changes-and-co2/#more-30722

    It’s time to stop the eco taxes and the incredible costly carbon trading and alternative energy frenzy.