Japan needs to implement measures to lower greenhouse gas emissions and avoid a bill of as much as 1.2 trillion yen ($10.5 billion) to buy carbon credits in global markets, a government report says.
Japan may fail to cut emissions and meet the target set out in the Kyoto Protocol, forcing the government to increase spending on credits to offset higher industrial pollution, the report by the finance ministry's fiscal system council said. Prime Minister Yasuo Fukuda's government is reviewing plans to achieve the nation's goal under the United Nations treaty.
``Our tax payers won't accept the financial strain,'' the finance ministry panel said in the report....MORE
