• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 2 hours Would bashing China solve all the problems of the United States
  • 1 min Model 3 cheaper to buy than BMW 3 series.
  • 2 hours Yale University Epidemiologist Publishes Paper on Major Benefits of Hydroxchloroquine for High-risk Outpatients. Quacksalvers like Fauci should put lives ahead of Politics
  • 1 hour Pompeo's Hong Kong
  • 1 day China to Impose Dictatorship on Hong Kong
  • 12 hours COVID 19 May Be Less Deadly Than Flu Study Finds
  • 2 hours Thugs in Trumpistan
  • 6 hours China’s Oil Thirst Draws an Armada of Tankers
  • 51 mins Income report showing potential future spending and economic growth
  • 7 hours China To Boost Oil & Gas Exploration, As EU Prepares To Commit Suicide
  • 2 days Iran's first oil tanker has arrived near Venezuela
  • 2 hours US-China tech competition accelerates: on Friday 05/15 new sanctions on Huawei, on Monday 05/18 Samsung chief visits China
  • 2 days Chicago Threatens To Condemn - Possibly Demolish - Churches Defying Lockdown
  • 3 hours The CDC confirms remarkably low coronavirus death rate. Where is the media?
  • 1 day 60 mph electric mopeds
Bitcoin’s Shocking Energy Consumption

Bitcoin’s Shocking Energy Consumption

Bitcoin’s energy consumption has been…

Driving Season Won’t Save Gas Demand

Driving Season Won’t Save Gas Demand

Memorial day weekend usually marks…

Carbon Finance

Carbon Finance

Carbon Finance is a monthly newsletter and e-mail update service providing in-depth coverage of the global markets in greenhouse gas emissions.

More Info

Premium Content

Japan’s 2020 Emissions Target Under Review Following Fukushima Disaster

Japan’s 2020 emissions target is under question as a result of the Fukushima nuclear disaster, Japanese officials have conceded.

"It is true that our reduction target will be affected significantly," Reuters reported vice environment minister Hideki Minamikawa as telling reporters on Sunday ahead of UN climate talks in Bangkok, citing Japanese newspaper the Yomiuri Shimbun. "The target year and the size of the reduction will be up for review."

Japan has pledged to reduce emissions 25% below 1990 levels by 2020, conditional on other industrialised countries making similar reductions.

Senior officials in Tokyo have been less direct, with Reuters quoting chief Cabinet Secretary Yukio Edano, the number-two official in Japan's cabinet, as saying on Monday: "At the moment, we have not decided whether to review the target and we are not at a stage where we can make a decision."

Last week, in the first official comment on the issue, environment minister Ryu Matsumoto said that Japan had no immediate plans to review its 2020 target. However, given that Japan’s emissions targets are dependent upon a substantial contribution from low-carbon nuclear generation, commentators have speculated that climate change targets would inevitability come under scrutiny in response to the earthquake, tsunami and ongoing nuclear disaster.

Meanwhile, Japan remains committed to its Kyoto Protocol commitment to cut emissions by 6% from 1990 levels over the 2008-2012 period, Takehiro Kano, director of the climate change division of the Ministry of Foreign Affairs, told Reuters.

Analysts in the carbon market expect that demand for Assigned Amount Units is set to rise, as Japanese utilities plug the gaps in their electricity supply with fossil fuel capacity, making it harder to reach the Kyoto Protocol target.

However, longer-term targets would become very expensive for Japan to meet if its nuclear fleet was substantially reduced in size, or kept offline for an extended period.

Source: Carbon-financeonline.com


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News