Japan to buy carbon emission credits from the Czech Republic

Since Japan is overshooting the carbon emission allowance it was allowed by the Kyoto Protocol, the Japanese government will be using taxpayers’ money to buy carbon credits from the Czech Republic:
The deal could be lucrative for the Czech Republic as Tokyo needs to buy 100 million tonnes of credits between 2008 and 2012, worth around $3.7 billion based on current European carbon emission futures prices of 25.2 euros ($36.55) a tonne.
The memorandum of understanding, signed in Prague, is the third such agreement for the Japanese government following the similar accords with Hungary and Ukraine.
