Abstract
The Kyoto Protocol in Japanese policy making must be seen as an instrument in strategic energy planning. A greater focus in Japanese implementation policy on joint implementation within the Russian energy sector (and less emphasis on domestic sinks) is argued to be at least cost neutral, if not outright profitable. More importantly, it would have the capacity to deliver entry into force of the Protocol, and with it a key component in strategic Japanese energy policy: the flexible additional supply required for the successful liberalisation of the Japanese natural gas market. © 2001 Published by Elsevier Science Ltd