http://www.reuters.com/article/environmentNews/idUSPEK19924020080221

A major Japanese business coalition with powerful influence over public policy has just dropped its opposition to a cap-and-trade program, removing a major hurdle in Japan's move towards major climate change legislation.

Acquiescence from the Japan Business Federation, which has argued that quotas would be unfairly distributed and hurt growth, could allow Tokyo to push through a trading scheme as it seeks to become a global leader in tackling climate change.

Currently, it relies on voluntary pledges to cut emissions, but Japan's resistance to forcing stricter standards on its firms is leaving it increasingly isolated internationally.

Japan has been consistently behind on enacting Kyoto protocol reforms, but since they have assumed leadership of the G8 they have begun preparations for major climate change discussions when the Group meets in July.

Reuters; February 21, 2008

Submitted by B. Shapiro