Japan JMD, China Co Ink Largest Carbon Credit Deal-Xinhua

Japan’s JMD Greenhouse Gases Reduction Co. and a Chinese chemical plant have agreed on the world’s largest greenhouse gas discharge reduction and carbon credit deal, China’s official Xinhua News Agency reported.

Under the agreement, JMD and state-owned Zhejiang Juhua Co. (600160.SH) will establish a Clean Development Mechanism, or CDM, project under the Kyoto Protocol to help Juhua reduce emissions by an equivalent of nearly 40 million metric tons of carbon dioxide over seven years, the report said Tuesday, without specifying when the project will start.

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