Mitsubishi Corporation

Press Room

October 6, 2010

Mitsubishi Corporation Registers Fifty CDM Projects
A First for a Japanese Company

Mitsubishi Corporation (MC) has announced the registration(*1) of fifty Clean Development Mechanism (CDM) projects, a first for a Japanese Company. MC has developed its emissions reduction business from an early stage, using the market mechanism(*2) to contribute to environmentally sustainable economic growth. 
 
MC has continued to develop CDM projects since registering its first CDM project in March 2006. As of Sep 24, 2010, MC has registered a total of fifty CDM projects resulting in an annual reduction of 24 million tons of CO2. (Emissions reductions are calculated based on the emissions at the time of registration with the United Nations.) In addition, MC has a total of 30 projects in the process of being registered with the UN. Combined with the fifty already registered, these projects are forecasted to achieve the reduction of approximately 29 million tons of CO2 per year. The total emissions reduction is expected to be approximately 90 million tons by the end of 2012 when the Kyoto Protocol’s First Commitment Period expires, making MC a global leader in this field in terms of the number of projects and quantity of reductions.
 
Making use of our strength as a general trading company, MC will continue to provide solutions to climate change through the emissions reduction business such as initiating global-scale emissions reduction projects and delivering emissions reduction credits to all companies aiming to meet their own emissions requirements.
 
About MC
Not only is MC a trader of emissions reduction credits, but it also offers one-stop shopping for all of the service required from development of emissions reductions to delivery of the credits to companies aiming to meet their own emissions requirements. In some projects, MC is involved in the emissions reduction project itself providing and introducing equipment, technology and even the financing necessary to reduce emissions for project partners in developing countries. By being involved in the whole process as a main player, MC is satisfying the needs of project partners and customers. Though there are considerable risks and complexities involved until a project is registered with the UN, a process that has become quite rigid and lengthy, MC has succeeded in increasing the number of registrations by completing projects one by one.
 
Emissions reduction credits are issued not only by registration but by going through continuous calibration and reporting of reduction activity of registered projects with approval by qualified third parties and the UN. Similar to the registration process, the procedure for credit issuance is getting stricter, but MC will keep making efforts to successfully deliver emissions reduction credits to companies aiming to meet their own emissions requirements.
 
Emissions Reduction Credits Issuance Process

 
 
*1: Registration
Registration refers to the registration of projects by the UN through the CDM(*3) application process and the obtaining of approvals from the Japanese government.
 
*2: Market mechanism
A market mechanism is a mechanism that automatically balances supply and demand through pricing. The trading of emissions reductions credits is a scheme using this mechanism to achieve emissions reductions efficiently and at low cost.
 
*3: The Clean Development Mechanism (CDM)
CDM refers to an arrangement to reduce greenhouse gases under the Kyoto Protocol. For instance, if Japanese companies with obligations to cut greenhouse gases can help to reduce emissions in developing countries where there are no such obligations, by following CDM rules these companies can receive Certified Emission Reduction(CER) credits from the UN CDM Executive Board.
 
 

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