Tokyo's Emissions Trading System : A Review of its Operation since 2010

Tokyo's Emissions Trading System : A Review of its Operation since 2010

This note reviews the operations and experience of Tokyo's emissions trading system since its launch in 2010 and follows on from an earlier issue of directions in urban development that described the design and development process of the syste...

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Bibliographic Details
Main Author:	World Bank
Format:	Brief
Language:	English en_US
Published:	World Bank, Washington, DC 2016
Subjects:	ABSORPTION AIR ALLOCATION ALLOCATION OF ALLOWANCES ALTERNATIVE FUELS ANNUAL EMISSIONS BASE YEAR EMISSIONS CALCULATION CARBON CARBON CREDITS CARBON DIOXIDE CARBON INTENSITY CLIMATE CLIMATE CHANGE CLIMATE CHANGE MITIGATION CO CO2 COLD WATER CRUDE OIL ELECTRICITY ELECTRICITY CONSUMPTION ELECTRICITY SAVINGS EMISSION EMISSION REDUCTIONS EMISSIONS EMISSIONS REDUCTION EMISSIONS REDUCTIONS EMISSIONS REDUCTION ENERGY CONSERVATION ENERGY CONSERVATION MEASURES ENERGY CONSUMPTION ENERGY EFFICIENCY ENERGY EFFICIENCY MEASURES ENERGY SAVINGS ENERGY SOURCES ENERGY SUPPLY ENVIRONMENTAL DAMAGE EXCESS EMISSIONS FOREST FUEL FUELS GENERATION GHG GHGS GREEN ENERGY GREENHOUSE GREENHOUSE GAS HEAT HISTORICAL EMISSIONS HOT WATER HOT WATER SUPPLY HUMIDITY LARGE EMISSIONS NUCLEAR REACTORS OFFSET CREDITS PENALTIES PORTFOLIO POWER POWER CRISIS POWER SHORTAGES POWER SYSTEMS REDUCTION IN EMISSIONS RENEWABLE ENERGY RENEWABLE PORTFOLIO STANDARD SOLAR ENERGY SOLID WASTE SOLID WASTE MANAGEMENT TEMPERATURE TOTAL EMISSIONS WASTE WASTE MANAGEMENT
Online Access:	http://documents.worldbank.org/curated/en/607981468253741772/Tokyo http://hdl.handle.net/10986/25486

Description
Summary:	This note reviews the operations and experience of Tokyo's emissions trading system since its launch in 2010 and follows on from an earlier issue of directions in urban development that described the design and development process of the system. In January 2013, the Tokyo Metropolitan Government (TMG) announced that FY2011-the second full year of Emissions Trading System (ETS) operation from April 2011 to March 2012-saw a 23 percent reduction in the emissions from participating facilities covered by the ETS, compared with the base year. Total emissions from these facilities in FY2011 were 7.22 million tons of CO2, which was some 2.16 million tons less than the base year. Notably, 93 percent of these facilities achieved reductions in excess of their obligations for the first compliance period in FY2011. This surpassed the first year performance recorded in FY2010, where emissions were 13 percent below the base year, with 64 percent of facilities achieving reductions in excess of obligations for the first compliance period. Under Tokyo's ETS, facilities that reduce emissions below the target may sell the excess reductions as credits. Conversely, if actual emissions reductions fall short of the target, they may purchase credits to make up the difference. Apart from excess emissions reductions, eligible credits include offsets from small and medium sized facilities, large facilities outside Tokyo, renewable energy credits, and credits from Saitama prefectures ETS. TMG has provided a framework for long-term goal setting by indicating the estimated emissions reductions that would be required in the second compliance period.

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