Jan. 8 (Bloomberg) — Japan signed an agreement with Mongolia to help offset its greenhouse gas emissions, the Ministry of the Environment said in a statement today.

The agreement is the first of its kind as Tokyo seeks to develop similar bilateral offset-credit mechanisms with countries including Indonesia, Vietnam and Bangladesh.

Under the bilateral mechanism, Japan will cut carbon dioxide emissions by setting up energy-management systems and forest-protection projects in developing countries using Japanese technologies.

To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net