Tokyo, December 11, 2017 - Today, Rakuten, Inc. launched the Rakuten Energy Trading System (REts), a J-Credit trading system built using blockchain technology, in cooperation with CARBON VALUE CREATING & CONSULTING Co., Ltd., and GLOBAL ENGINEERING Co., Ltd.
- Rakuten, Inc.
- CARBON VALUE CREATING & CONSULTING Co., Ltd.
- GLOBAL ENGINEERING Co., Ltd.
Rakuten launches “Rakuten Energy Trading System” to encourage trade in J-Credits
Certified by the Japanese government, J-Credits are carbon offset credits that can be earned when corporations reduce emissions or increase absorption of greenhouse gases by saving energy, managing forests and other activities. To date, the only options available to corporations wanting to trade their earned J-Credits have been conventional bidding or direct trading systems. REts brings greater transparency to the J-Credit trading process by enabling traders to clarify J-Credit value and trade volume in real time.
REts offers two grades of membership: Viewing Members are able to view a list of J-Credit products registered on the system by completing a simple free-of-charge registration process; and Purchasing Members are able to both view and purchase J-Credits after completing a screening process. Corporations wishing to sell J-Credits may do so after contacting REts and completing an individual contract.
REts also offers a range of ancillary services, such as help with the offsetting procedures of J-Credits, and assistance with the generation of J-Credits for trading purposes. Rakuten hopes to stimulate trading in J-Credits by offering comprehensive support from creation through to utilization.
REts was developed with the cooperation of Rakuten Blockchain Lab (R.B.L), an R&D organization based in Belfast, U.K. that specializes in blockchain technology. The system represents the first use in Japan of blockchain technology to operate a J-Credit trading system. J-Credits that can be traded on this system are issued on a private blockchain as digital assets and changes of ownership resulting from trading are registered on the blockchain. The goal is to eventually establish a consortium that will encourage open trading in J-Credits and other so-called “Environmental Values” by permitting the use of this blockchain on other similar systems.
Rakuten Energy, a provider of energy solution services, has offered J-Credit trading mediation services since March this year. In the course of these activities Rakuten Energy was able to confirm the diverse needs and trading appetite of new energy producers and suppliers (PPS) and other corporations, and so decided to build this system in cooperation with CARBON VALUE CREATING & CONSULTING and GLOBAL ENGINEERING.
The three companies will continue to keep close watch on trends in the newly formed negawatt (power saving) market, which was established in April 2017, and in the non-fossil value trading market regulated under the Sophisticated Methods of Energy Supply Structures Law, and consider in due course the potential to add other products to REts.
Overview of Rakuten Energy Trading System services
Name: Rakuten Energy Trading System (REts)
Date of service commencement: December 11, 2017
Clients for the service: Corporations
Types of services:
- Providing a J-Credit trading system
- Supporting the creation of J-Credits
- Assistance with J-Credit offsetting (substitution nullification) procedures
- Fees for use: A registration fee of 150,000 yen (tax not included) applies for Purchasing Members
*There are exemption conditions.
*Viewing Members are not charged a fee.
About GLOBAL ENGINEERING
Company name: GLOBAL ENGINEERING Co., Ltd.
Founded: October 1991
- Retail sale of electricity
- Proposing Demand-Response
- Engineering and maintenance of independent electric power generators
- Proposing energy monitoring systems
- Proposing energy saving systems
- Facility management services
- CO2 offsetting
Location: Fukuoka City, Fukuoka Prefecture
Representative Director and CEO: Akira Oshita
About CARBON VALUE CREATING & CONSULTING
Company name: CARBON VALUE CREATING & CONSULTING Co., Ltd.
Founded: December 2009
1. Creation, mediation and sale of J-Credits
2. Project sales of carbon offset credits using J-Credits
3. Supporting applications for subsidies
4. Consulting with medium and small companies concerning energy saving and CO2 reduction
5. Commissioned survey research on saving energy, CO2 reduction, and J-Credits.
6. Sales of energy saving equipment and machinery
Location: Chiyoda Ward, Tokyo
Representative Director, Kantaro Ozaki