| July 28
July 28 Japan and Mexico have signed a deal for
Japanese companies to earn carbon credits by investing in
technology to cut greenhouse gas emissions in Mexico - in
Japan's 12th bilateral carbon agreement.
The programme, known as the Joint Crediting Mechanism (JCM),
lets companies in Japan, the world's fifth-biggest greenhouse
gas emitter, use lower-cost emission cuts abroad to help meet
"The objective ... is to establish the basis through which
the participants will promote the investment and the use of
technologies, products, systems, services and infrastructure in
order to reach a low carbon growth in Mexico," the Embassy of
Japan in Mexico and Mexico's Ministry of Environment and Natural
Resources said in a joint statement on Monday.
Japan has been increasingly relying on fossil fuels to
generate electricity after idling all 48 of its nuclear plants
in the aftermath of the 2011 Fukushima disaster, and that has
make it hard to rein in carbon emissions.
As a result, Tokyo last year weakened its 2020 emissions
target, saying it would restrict its greenhouse gas output to a
level that is 3 percent above 1990 emissions by the end of the
decade, instead of cutting them by a quarter during that period.
Bilateral offset carbon deals let Japan meet a share of its
target by paying for emission cuts in developing countries,
where emission reductions are usually less costly.
The rules on monitoring and enforcing emission cuts under
Japan's deal with Mexico and its other bilateral agreements have
yet to be recognised by the United Nations, while negotiations
are underway on a global climate pact, including an
international framework for such deals.
Mexico has already made use of foreign funding under
separate U.N.-led initiatives to help developing nations reduce
their carbon footprint and has pledged that by 2020 it will
reduce greenhouse gas emissions by 30 percent from the level
forecast in 2010.
Mexico already has several projects registered under the
U.N.'s Clean Development Mechanism (CDM), which allows investors
in emission reduction projects located in poor nations to earn
credits that governments and companies elsewhere can use to
Mexico also received the first grant from Britain's and
Germany's U.N.-backed NAMA Facility, getting 14 million euros
last year for a programme to cut energy use in homes by
introducing energy efficiency standards across all new housing
The statement said any participants in the JCM will not be
able to use projects registered under any other international
emission reduction schemes.
Japan's Hokuriku Electric and Panasonic
will launch energy-saving initiatives in Mexico as part of the
JCM scheme, the Nikkei news agency reported on Monday.
Hokuriku Electric will distribute smart meters to retail
stores and auto parts factories in Mexico to track their power
consumption and encourage them to replace inefficient equipment
with new Panasonic models, the news agency said.
Japan's previous JCM partners include Costa Rica, Ethiopia,
Indonesia, Kenya, Mongolia and Vietnam.
(editing by Jane Baird)