|June 18, 2007|
Japanese Bank Starts Small-Lot Sale of Emissions Credits
|Japan's Sumitomo Mitsui Banking Corp. started the small-lot sale of trust funds on greenhouse-gas emissions trading and made the first transactions on June 18, 2007. This service is the first of its kind to be provided by a Japanese bank.|
Sumitomo Mitsui Banking purchases emissions credits from a biomass power business in Brazil, which uses wood processing residues such as sawdust for power generation. The bank sells the emissions credits in small lots as trust property, and the first joint purchasers were Mori Trust, Sumitomo Mitsui Card Co. and SMBC Leasing Co.
Such a small-lot sale enables non-manufacturers and small and medium-sized businesses to more easily acquire emissions credits. SMBC Leasing Co. has acquired 2,500 tons' worth of carbon dioxide (CO2) emissions, which is equivalent to five years of CO2 emissions from its headquarter building in Tokyo.
To read more about this please visit the following link, Sumitomo Mitsui Banking Corporation