According to a flash report released by the Tokyo Metropolitan Government, the Tokyo Cap-and-Trade program has reduced emissions by 23% compared to base-year emissions;*corresponding to an 11% reduction since the program’s start in FY2010. The reduction can be attributed to the continuation of measures, such as LED installation, taken by companies following the 2011 power crisis and Great Japan East Earthquake. As of February 2015, over 90% of covered entities have exceeded their reduction targets (6% and 8% below base-year emissions for business and industry entities respectively) for the first compliance period (FY2010-FY2014), and 69% of entities have already surpassed their targets (15% and 17% below base-year emissions for business and industry entities respectively) for the second compliance period (FY2015-FY2019).



* Base-year emissions are the average emissions from three consecutive fiscal years selected between FY2002 and FY 2007.