Japan officials announced last week that they will be looking into a cap-and-trade program to reduce greenhouse gas emissions. Japan is currently far behind in its goals set forth within the Kyoto Protocol. One trade ministry official said, "We are preparing to set up a panel on the premise of introducing a cap-and-trade system." As Japan sets to host a summit in July for the eight major industrial nations, leaders believe they need to do something to show they are trying to move forward in the climate change battle. Japan Business Federation chairman Fujio Mitarai said, "For the success of the Toyako Summit, Japan, which is chair of the summit, needs to think about the issue based on global trends."
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Japan to consider cap-and-trade
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