Marubeni to join ECX and enter international emission trading
Sep. 21. 2007
Marubeni Corporation (“Marubeni”) announced today that they have joined ECX (European Climate Exchange), the world's largest exchange for trading emissions credit, as a first Japanese company.
ECX had launched in April 2005 and its trade volume has increased dramatically in growth. In 2006, 452 million tonnes CO2 of EUA (EU Allowance; emissions credit in EU) was traded with an underlying market value approx. €10 bn, and more than 80 European major companies participate in ECX.
ECX will launch CER (Certified Emission Reduction; emission credit under Kyoto Protocol) contract by the end of September and it will stimulate emission trading in EU as well as in an international degree.
Marubeni has participated in GHG(Green House Gas)emission reduction projects overseas, obtained emissions credit from its projects and has provided these to Japanese clients. Marubeni is empowering its function and organization in procurement/supply of emissions credit so as to take measures against the diversifying needs in the carbon market.
Marubeni also announced that it has joined IETA (International Emissions Trading Association, an NGO dedicated to establish international emission trading market). Marubeni will be actively involved in creating the framework of international emission trading from now onwards.