TOKYO Nov 22 Japanese steelmakers are likely to
receive 10.4 million tonnes of U.N. carbon dioxide offsets over
the Kyoto Protocol's five-year period, lower than the 35 million
tonnes estimated earlier, the Iron and Steel Association of
Japan said on Thursday.
The decline is due to delays and scale-downs in clean energy
projects in China and other developing countries, the
Steelmakers and power utilities are major offset buyers in
Japan, the world's fifth biggest emitter of greenhouse gases.
The offsets are aimed at helping Japan meet its obligations
under the Kyoto Protocol to cut emissions by 6 percent from
1990/91 to 1.186 billion tonnes a year on average over the five
years to March 2013.
An economic slump in 2008 and 2009 undermined economic
activity and has made it easier for industries in Japan to meet
their self-pledged emission cut goals.
Japan's power utilities have said they would buy a total 260
million tonnes of U.N. offsets from abroad. Of that, they
redeemed a total 201.9 million tonnes by transferring the
offsets to the government's account between 2008 and 2011, a
Reuters survey shows.
Oil refiners expect offset delivery of 1.7 million tonnes,
oil and gas developing companies at 31.6 million tonnes and drug
makers at 0.2 million tonnes, according to data released this
week by Japan's main business lobby, Keidanren.
(Reporting by Risa Maeda; editing by Miral Fahmy)