The second round of applications for the trial voluntary emission trading scheme in respect of the target year from April 2009 to March 2010 resulted in 192 new participants. These include 72 participants who will accept targets under the trial voluntary emission trading scheme, 7 trading participants and 113 participants who will participate solely in the domestic CDM scheme. The total number of participants for the trial voluntary emission trading scheme has now passed 700.
Domestic CDM was introduced as one the major pillars to the domestic integrated market where large-sized companies would invest or technically assist small to medium sized companies to reduce their GHG emissions and in turn acquire the reduced emission rights. In connection with the domestic CDM scheme, the Japanese government recently announced 77 new domestic CDM applications (amounting to 70,000 tons of CO2 emission reductions) leading to a total of 100 applications as of the end of May 2009. Credits have also started to be issued in connection with approved projects.