Tokyo Stock Exchange plans to start accepting applications to register as a carbon credit market participants from next month in order to open the carbon credit market and begin trading around October, Japan Exchange Group said in a statement.
The trading of J-Credits will be conducted initially, the group said. The J-Credit Scheme is designed to certify the amount of greenhouse gas emissions reduced and removed within Japan, according to the International Energy Agency.
Japan, the world’s fifth-biggest carbon dioxide emitter, began a carbon pricing scheme in stages in April to encourage companies to curb emissions and achieve the country’s goal of carbon neutrality by 2050.