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Update 1-Sojitz to set up online carbon credits market - Nikkei
March 29, 2010 / 8:57 PM / in 8 years

Update 1-Sojitz to set up online carbon credits market - Nikkei

March 30 (Reuters) - Trading house Sojitz Corp (2768.T) will create an online marketplace for carbon credits to quickly match up buyers and sellers, the Nikkei business daily reported.

Various frameworks exist in Japan for trading carbon credits, but with no common marketplace, buyers and sellers often have difficulty finding each other and getting a handle on market prices, causing the domestic market to stagnate, the paper said.

Sojitz subsidiary CoalinQ Corp, which operates an e-commerce site for coal transactions, will set up a joint venture with carbon credit seller Smart Energy Co on Thursday and the firm will start operating a carbon trading site in May, the daily said.

The marketplace will handle five or so kinds of carbon credits, including those issued by the Ministry of Economy, Trade and Industry, the Environment Ministry and the Tokyo Metropolitan Government, the Nikkei said.

About 4 percent to 5 percent of transaction prices will be charged as commissions and trading of the equivalent of at least 800,000 tons of carbon dioxide (CO2) emissions a year is targeted by 2014, the paper said.

Demand for carbon credit trading is expected to increase as a Tokyo ordinance on limiting CO2 emissions takes effect next month, the daily said. (Reporting by Saqib Iqbal Ahmed in Bangalore; Editing by Gopakumar Warrier)

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