Uzbekistan has approved a UN Clean Development Mechanism (CDM) project led by Mitsubishi Corp aimed at reducing greenhouse gas emissions under the Kyoto Protocol, Reuters reported quoting the Japanese trading house.

Mitsubishi's project aims to cut nitrogen oxide being discharged into the atmosphere from three plants operated by state company Uzkimyosanoat, it said in a statement.

The project expects to cut 5 to 6 million tonnes of carbon dioxide (CO2) equivalent by the end of 2012, or 1.2 million tonnes per year.

Mitsubishi plans to market the emissions credits earned from the project, which will be registered in the CDM scheme after receiving approval from Japan.

Under the UN CDM, companies from rich nations can invest in developing nations and then claim credits back home for averted carbon dioxide emissions.

UzReport.com