Japan reconsiders plan to cut carbon emissions
"Japan's wealth has been draining out" due to buying carbon credits from East European countries and China, Mr. Nobutani said.
METI estimates Japan has paid as much as ¥800 billion ($10.4 billion) to buy 400 million metric tons of carbon credits.
The U.S. says it won't sign a new pact unless China, India and other large economies accept compulsory emissions reductions under the same standards.
October 19, 2011
by Mari Iwata
in Wall Street Journal
TOKYO - Japan is reconsidering plans to cut carbon-dioxide emissions by 25% by 2020 due to a rethinking of its energy future, and the country is worried that it is spending too much on carbon-credit programs, a senior government official said on Wednesday.
Japan's doubts, prompted in part by its nuclear disaster in March, come at a time the European Union is questioning whether it should press ahead with plans to cut greenhouse-gas emissions if others don't follow suit.
"We don't want to give a wrong message to the international community, that's why I'm talking about the possible revision now,"... [continue via Web link]