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 Cred