Climate change in Japan of crude oil annually must reduce emissions by 15–20% of the average volume from the three years before this bylaw. Even with emissions trading or cap-and-trade, if the targeted reduction not is achieved by 2020, a penalty of up to JPY500,000 will be charged. This penalty chargeable regulation is the first in Japan. Japan created the Kyoto Protocol Target Achievement Plan to lay out the necessary measures required to meet their 6% reduction commitment under the Kyoto Protocol. It was first established as an outcome of the evaluation of the Climate Change Policy Program carried out in 2004. The main
Climate Change Capital Project. Climate Change Capital's CEO is Eric Alsembach who also serves as the managing director of the Bunge Asset Management group. Climate Change Capital Climate Change Capital is a private asset management and advisory group founded in 2003 by Lionel Fretz and James Cameron to support efforts to develop solutions to climate change and resource depletion. The company established an advisory group in 2004 to provide financial, strategic and policy advice to energy-intensive industries, financial institutions, cleantech companies and governments. The asset management business, which was established in 2005, includes a carbon finance fund that invests in emission reduction projects,