Tajima Forest, which manages about 1,200 hectares of forests in Hita, Oita Prefecture, has concluded a contract with tech giant LY and shipping business Iino Lines to trade credit for carbon dioxide emissions absorbed through forest conservation.
In what will be one of Japan’s biggest carbon trade contracts under the government’s J-Credit certification system, LY, which operates Line and Yahoo services, will purchase 1,500 tons of carbon credit per year from Tajima Forest for 10 years. The contract, signed on Feb. 15, is LY’s first forest-based emissions trading.