Feasibility studies on overseas projects using nuclear power and carbon capture and storage technologies aimed at reducing emissions will receive funding from the government of Japan.
Japan’s trade ministry said that the government will provide JPY260m ($3.2m) for studies on 15 emission-reduction projects, Bloomberg reported.
Director of the ministry’s Kyoto mechanism promotion office Noriaki Ozawa was quoted by Bloomberg as saying that the credits generated from the projects, if materialised, will help Japan export its technologies as well as meet its emission reduction goal.
Ozawa said Japan has begun talks with Vietnam, Indonesia, India, the Philippines, Thailand and Laos on the bilateral offset schemes.
Japan plans to use offsetting to help it cut greenhouse gas emissions by 25% from 1990 levels by 2020.
The selected projects will be developed in Vietnam, Indonesia, Mexico, Malaysia, Thailand, Maldives, Laos, and China.
AOC Holdings Inc’s Arabian Oil unit will work on a CCS project in Indonesia, while Tokyo Electric Power will study the viability of a nuclear power plant in Vietnam.
Menawhile, international talks in Tianjin, China, to reach an agreement to combat climate change ended this month with little progress made.