Three major Japanese companies, heavy industry firm IHI, Fujitsu and Mizuho Bank are collaborating to make the carbon credit issuance process less cumbersome with the help of blockchain.
In Japan carbon credit issuance takes place as J-Credits which require the government to certify the amount of greenhouse gas savings. Hence, it’s not a simple process to get the carbon credit issued. There’s a risk that, after taking the time to go through the process, the carbon credit issuer might struggle to find a buyer. Mizuho Bank is stepping in as a ‘priority purchaser’ to buy the J-Credits, which it will then sell to its clients.
The bank is a market maker for J-Credits on the Tokyo Stock Exchange, although the exchange volumes for J-Credits are quite small.
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