Japan Wood Products
Prices
Dollar Exchange Rates of
31th March 2009
Japan Yen 97.25
Reports From Japan
Japan finalizes carbon offset system for forests
Japan Lumber Reports indicated that Japan’s Ministry of
Forestry has established a forest carbon credit system. The
system, which is based on the J-ver (Japan Verified
Emissions Reduction) system launched in November
2008, will help calculate forest carbon dioxide absorption
and is the first of its kind. The absorption will be
calculated and estimated in credits, which can then be sold
to carbon dioxide emitting companies already registered in
the J-ver system. The Ministry hopes the credits will be
traded in the carbon market and funds reinvested in the
forestry industry.
Three projects will hold particular attention in the forest
absorption system: thinning promotion and management;
sustainable forest management; and plantation
management. Areas thinned after 2007 will be the target of
the efforts under the Japanese system. Sustainable forest
management activities will be in areas harvested and
replanted after 1990. Plantation projects will focus on
replanting, and all forests eligible for credits under the
credit system need to have a forest management system
compliant with the Forest Law. In order to generate
credits, one of the following three conditions has to be
satisfied: a long-term forest management plan based on the
Forest Law must be in place; an FSC or SGEC certificate
must be granted to the area; or a forest management
system must be established by local government.
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