On 19 February 2019, the Tokyo Metropolitan Government released results from the eighth year of operation of the Tokyo Cap-and-Trade Program. In FY2017, covered facilities emitted 12.4 million tonnes of CO2 – a reduction of 1% compared to FY2016, and, in aggregate, a reduction of 27% compared to base-year emissions.
The Tokyo Cap and Trade Program covers approximately 1,200 facilities which have an annual energy usage equivalent to 1,500 kilolitres or more of crude oil. Most reductions are attributed to ongoing energy efficiency measures and increasing share of low-carbon electricity and heat. Specifically, a new mechanism introduced for the second compliance period (FY2015 to FY2019), encourages covered facilities to procure electricity or heating from TMG-certified suppliers with lower emission factors. In FY2017, this mechanism was used by 115 facilities for Low-Carbon Electricity and 124 facilities for Low-Carbon Heat.
