Japan shelves carbon emissions trading scheme

Japan joins the growing list of nations who have shelved, postponed or cancelled carbon trading schemes (and there is not a single carbon trading scheme anywhere which is not built on fraud).

Reuters reports:

Japan postponed plans for a national emissions trading scheme on Tuesday, bowing to powerful business groups that warned of job losses as they compete against overseas rivals facing fewer emissions regulations.

The government has submitted a climate bill to parliament that includes a one-year deadline to design a national trading scheme. After Tuesday’s delay, that bill faces revisions in the next parliamentary session that begins in January.

The decision is a blow to the European Union’s hopes that other top greenhouse gas polluters will introduce emissions trading schemes and follows setbacks to similar efforts in the United States and Australia.

A U.N. meeting in Cancun, Mexico, this month failed to clear uncertainty over a global climate framework beyond 2012. This is likely to cause some big emitters to take their time in rolling out tougher greenhouse gas regulations, particularly for carbon dioxide (CO2) from burning fossil fuels such as coal and oil.

Neighboring South Korea has delayed the introduction of its emissions trading laws into parliament until February because of business concerns.

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One Response to “Japan shelves carbon emissions trading scheme”

  1. European commission extends carbon market freeze indefinitely « The k2p blog Says:

    […] A raft of countries (including Japan, Australia, Canada and the United States) have already shelved cap and trade schemes. […]

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