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
Capital flows in Japan Capital flows in Japan Capital began to flow in and out of Japan following the Meiji Restoration of 1868, but policy restricted loans from overseas. In the aftermath of World War II, Japan was a debtor nation until the mid-1960s. Subsequently, capital controls were progressively removed, in part as a result of agreements with the United States. This process led to rapid expansion of capital flows during the 1970s and especially the 1980s, when Japan became a creditor nation and the largest net investor in the world. This credit position resulted both from foreign direct investment by Japanese corporations, and