Sell carbon credits
to Japan
Carbonlink is a Tokyo-based carbon credit trading firm and an active buyer of JCM credits and Japanese compliance credits. If you are a project developer or trader looking for a credit buyer in Japan, we respond in English — with real price context that Japan's opaque OTC market does not publish.
Japan's compliance demand is real — and supply-constrained
Japan's emissions trading scheme (GX-ETS) entered its mandatory phase in April 2026. Only two credit types qualify for compliance use, and both are in structurally short supply. That is the demand behind our desk.
GX-ETS became mandatory in FY2026
Roughly 300–400 companies — those with direct emissions of 100,000 t-CO₂ or more on a three-fiscal-year average — now face binding targets under Japan's GX-ETS, with financial settlement for unmet obligations.
JCM is the only eligible international credit
GX-ETS accepts exactly two credit types: domestic J-Credits and JCM (Joint Crediting Mechanism) credits. Verra or Gold Standard units cannot be used for GX-ETS compliance — international supply must come through the JCM.
Credits can cover up to 10% of actual emissions
Each covered company may use eligible credits for up to 10% of its actual emissions. Against Japan's national target of ~100 Mt-CO₂ of cumulative international reductions by FY2030, issued JCM volume remains a fraction of potential demand.
Corporate reporting demand beyond the ETS
Under Japan's mandatory GHG reporting scheme (SHK), companies can lower reported adjusted emissions by retiring JCM credits — a second, reporting-driven demand channel alongside GX-ETS compliance.
Our buying scope
We buy as principal — not as a listing platform. Every inquiry is reviewed by the same desk that trades Japanese compliance credits daily.
Issued JCM credits (spot)
Credits already issued to a Japan-side JCM registry account, across methodologies and partner countries. We verify issuance and account status on the registry before pricing.
Forward & offtake from JCM projects
Projects registered or under validation in any of the 32 JCM partner countries. We structure forward purchases and prepayment-based offtake case by case — allocation (gross vs. net of government and host-country shares) is the first thing we check.
Article 6 & other international credits
Credits outside the JCM cannot be used for GX-ETS compliance, so our appetite is limited and demand-led. We review corresponding-adjusted Article 6 portfolios when a specific Japanese buyer mandate exists.
What JCM credits are actually worth in Japan
JCM credits are not listed on any exchange, and no public price index exists — we confirmed this against World Bank, IGES, and ADB sources. All trades are bilateral (OTC). These are the anchors we use on our own desk, published so that sellers can calibrate expectations before reaching out.
| Price anchor | Level | What it means for sellers |
|---|---|---|
| GX-ETS price corridor (FY2026) | JPY 1,700 – 4,300 / t-CO₂ | Regulated floor and ceiling set for FY2026 (announced by METI, December 2025). Because obligations can be settled at the ceiling price, it caps what compliance buyers will pay in practice. |
| JPX-listed J-Credits (domestic substitute) | ≈ JPY 4,400 – 5,000 / t-CO₂ | Exchange reference prices for the domestic alternative, which trades above the ETS ceiling on broader corporate demand (GHG reporting and voluntary use). JCM credits compete against this benchmark net of transfer friction. |
| Issued JCM credits, spot (observed) | ≈ US$18 – 22 / t-CO₂ (low JPY 3,000s) | Indicative range from our own 2026 trading activity and counterparty quotes. Not a public statistic — no such statistic exists. |
| Development-stage / prepaid offtake | From the high JPY 2,000s / t-CO₂ | Earlier-stage risk priced accordingly. Structures with prepayment trade at a discount to issued spot. |
Indicative only, as of mid-2026; every transaction is priced individually. Asks at or above the JPY 4,300 GX-ETS ceiling are, in our experience, not executable with Japanese compliance buyers.
From first contact to settlement
- 01
Introduction & screening
Send us the project outline: methodology, partner country, registration status, issuance history, and — critically — your credit allocation net of government and host-country shares. We respond in English.
- 02
Due diligence
We verify claims against the JCM registry and project documentation. Sellers who state gross project volume rather than their own net allocation are the single most common reason deals stall.
- 03
Pricing & terms
Bilateral negotiation anchored to the levels published above. Spot, forward, and prepayment structures are all on the table.
- 04
Contract
English-language purchase agreement. For forward structures, delivery obligations and shortfall remedies are defined at signing.
- 05
Registry transfer & payment
Transfers of JCM credits are executed through an application to the JCMA (Japan's designated JCM agency). Payment follows confirmation of the registry transfer, on contractually agreed terms.
Frequently asked questions
Q.Do you buy Verra (VCS) or Gold Standard credits?
A.Not for Japanese compliance use — GX-ETS accepts only J-Credits and JCM credits, so voluntary units have no compliance value in Japan. We review corresponding-adjusted Article 6 portfolios selectively, when a specific Japanese buyer mandate exists.
Q.Is there a minimum volume?
A.No fixed minimum. Spot parcels from a few thousand t-CO₂ upward are workable; forward and offtake discussions typically concern larger, multi-year volumes.
Q.We don't have a Japanese JCM registry account. Can we still sell?
A.Yes. Foreign corporations can open an account in Japan's JCM registry (application to the JCMA, roughly two weeks, JPY 14,400 fee), and we guide counterparties through the process. What matters commercially is that the credits — or a contractual right to them — sit on the Japan-allocated side of the project.
Q.How can you quote prices when there is no JCM price index?
A.Precisely because we trade. We anchor to the GX-ETS price corridor (JPY 1,700–4,300), JPX-listed J-Credit prices as the domestic substitute, and our own executed and quoted OTC transactions. The indicative levels above are published from that activity.
Q.Which countries do you buy from?
A.Any of the 32 JCM partner countries (as of April 2026). Methodology and allocation quality matter more to us than geography.
Q.Who are we dealing with?
A.Carbonlink Inc., a Tokyo-based carbon credit trading and brokerage firm founded in 2023, with approximately ¥200 million (30,000 t-CO₂) in cumulative direct J-Credit purchases and carbon-market services covering procurement, buyback, and OTC intermediation.
Get in touch
For inquiries about trading, partnerships, or any of our services, please reach out via our contact form. Inquiries in English are welcome.
The form labels are in Japanese — feel free to write your message in English.