Japan to seal carbon deal with Ukraine soon

Japan to seal carbon deal with Ukraine soon
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First Published: Mon, Mar 16 2009. 11 26 AM IST
Updated: Mon, Mar 16 2009. 11 26 AM IST
Tokyo: Japan is set to complete a deal this week to buy emissions rights from Ukraine, marking its first deal through a government-to-government trading scheme under the Kyoto Protocol, a Japanese government source familiar with the talks said on Monday.
Over the past two years, Japan has talked with about 10 eastern and central European countries, including the Czech Republic, Poland and Hungary, to help it meet its greenhouse gas emissions target under Kyoto.
Ukraine will deliver 30 million tonnes of so-called Assigned Amount Units (AAUs), half of which will be delivered in the Japanese fiscal year that ends this month and the other half in the next fiscal year, the source said.
Japan hopes to complete another AAU deal with a different eastern European country, estimated to be worth tens of million tonnes in April, the source added.
The source declined to comment further about the second AAU deal.
A second government source said that talks with Poland and Hungary had been delayed.
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First Published: Mon, Mar 16 2009. 11 26 AM IST