The Government of Japan Approved Two CDM Projects for BioCF

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.

New Window Open<Reference> Present Investment to BioCF (PDF: 29KB)

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