Tokyo Century Corporation has partnered with Sumitomo Forestry Co., Ltd. and NTT Docomo Business Inc. to commence trading of forest-derived J-Credits using the Forest Value Creation Platform as of today as part of its efforts to realize a decarbonized society through the distribution of carbon credits.
As Japan aims to reduce greenhouse gas emissions in order to achieve carbon neutrality by 2050, carbon credits are becoming increasingly important. In particular, the amount of certified J-Credits derived from domestic forests is on the rise, driven by an increase in large-scale projects, growing awareness of decarbonization, and reviews of various systems. However, due to various reasons, including the complexity of the project registration and certification application procedures and low awareness of the system, the amount of J-Credits issued and utilized from forests remains small compared to J-Credits derived from energy conservation and renewable energy. Therefore, there is a need to expand the amount of J-Credits issued from forests and revitalize the entire distribution market.
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In collaboration with Sumitomo Forestry and NTT Docomo Business, we will conduct a credit trading business to support the expansion of forest-derived J-Credits distribution by acquiring credits from forest owners and selling them to credit consumers through “Morikachi” with the aim of promoting the creation of forest-derived J-Credits, and a business matching business to introduce customers to “Morikachi.” Through these efforts, we aim to expand the distribution volume of forest-derived J-Credits, and by securing a stable supply of forest-derived J-Credits and selling them to credit consumers aiming for carbon neutrality, we will contribute to the revitalization of Japan’s forest and forestry sectors by diversifying revenue sources and to the realization of a decarbonized society.
SOURCE: PRTimes