Japan’s new CO2 offset ideas to complement U.N.

Japans idea for a new carbon offset scheme would complement an existing U.N. mechanism and make it easier for developing countries to access clean-energy technology from Japan, a senior climate envoy said on Wednesday.

Japan has pressed ahead with plans for bilateral deals in which it invests in clean energy projects in developing countries, in exchange for credits to meet part of targets to reduce greenhouse gas emissions at home.

The United Nations also runs a carbon offset scheme called the Clean Development Mechanism CDM, but it has been criticised for being too complex and rigid while taking too long to approve projects.

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