Japan and Singapore move towards carbon trading
Japan and Singapore both announced steps towards establishing domestic markets for carbon trading this week.
The Tokyo Stock Exchange (TSE) and the Tokyo Commodity Exchange (Tocom) are to partner in the formation of an emissions trading exchange. Both parties have already signed a memorandum of understanding (MOU) on comprehensive mutual co-operation in January 2008.
According to a Tocom statement, the agreement has been prompted by the recent financial crisis, which has emphasised the benefits that
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