[First in Japan] Voluntary Credits Created from Tokyo's Forests!

The Tokyo Metropolitan Government is collaborating with startups to promote the creation of carbon credits*1 generated by absorbing and removing CO2 using the natural resources within the prefecture, through its "Absorption and Removal Carbon Credit Creation Promotion Project." We are pleased to announce that voluntary forest-based carbon credits*2, the first of their kind in Japan, have been issued from forests in Tokyo as part of a demonstration project selected in fiscal year 2024.

*1 Carbon credits are certified emissions reductions or absorption amounts from initiatives such as energy-saving equipment adoption and forest management, which can be traded among companies after verification by third-party organizations. They are an effective mechanism for promoting decarbonization.

*2 Voluntary credits are a type of carbon credit that has been certified by private certification bodies for CO2 emission reductions, absorption, or removal amounts from projects implemented worldwide.

Demonstration Business Operator

iForest Inc.

Address: xBridge-Global, 3-1-3 Nihonbashi, Chuo-ku, Tokyo

Date Established: March 14, 2022

Representative: Takaaki Maruyama, President & CEO

A climate tech company focused on forests with the vision to "reconstruct the connection between people and forests." They aim to achieve nature positive and sustainable forest management by visualizing and valuing the multifaceted value of forests using cutting-edge remote sensing technology and biodiversity assessment models.

Overview of Demonstration Project

Demonstration of CO2 Absorption Visualization in Forests for the Creation of Japanese Voluntary Credits (JVC)

Creation of a new voluntary credit system in the forest sector through the demonstration of CO2 absorption calculation methods using industrial drones and satellite data, and a quantitative biodiversity assessment model (Demonstration ends December 2025).

Certified Credits

Credit Type: Voluntary Credit

Certification Body: Natural Capital Credit Consortium (NCCC)

Applicable Methodology: NCCC-MD0002 Afforestation, Reforestation, and Revegetation

Amount Certified This Time: 77t-CO2

Location: Hinohara Village, Tokyo

- The certified carbon credits will be sold to Tokyo Tatemono Co., Ltd., a cooperating company in this demonstration, and discussions on their utilization will proceed.

- By continuing appropriate forest management, this project is expected to generate 1,725t-CO2* of credits by 2045.

* t-CO2" is a unit representing the weight of greenhouse gas reduction or absorption in terms of CO2 equivalent. The 1,725t-CO2 planned to be generated through this project is equivalent to the amount of greenhouse gases emitted annually by approximately 486 typical Japanese households.

Project Overview

Startups with excellent ideas and technologies related to CO2 absorption and removal in the agriculture, forestry, and fisheries sectors are publicly solicited and selected. Support, including cost coverage, is provided for two years for demonstration projects aimed at creating absorption and removal carbon credits within the prefecture.

Support Details

1 Coverage of costs related to demonstration projects (up to 40 million yen / 2 years)

2 Accompanying support from project promoters.

The project website features a report on the selected projects.

https://www.removal-credit.metro.tokyo.lg.jp/