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Japan, committed to global greenhouse gas (GHG) reduction and sustainable development, implements the Joint Crediting Mechanism (JCM) under Article 6 of the Paris Agreement. The JCM serves as a flexible and swift avenue for technology diffusion and mitigation actions in partner countries.
Key Components
- Technology Diffusion: The JCM focuses on disseminating advanced decarbonizing technologies, products, systems, services, and infrastructure in partner countries. This facilitates the swift adoption of innovative measures to address climate challenges.
- Quantitative Evaluation: Japan commits to quantitatively assessing its contributions to GHG emission reductions and removals through the JCM. These evaluations serve as a basis for achieving Japan's Nationally Determined Contributions (NDC) targets, aligning with the ultimate objective of the UNFCCC.
- Sustainable Development: The JCM not only addresses GHG emission reduction but also emphasizes sustainable development in partner countries. By integrating environmental and developmental goals, the mechanism ensures a holistic approach to climate action.
Current Status
- Partnerships: Japan has established collaborations with 27 countries (as of August 31st, 2023) under the JCM. Continuous engagement and communication with developing nations further solidify the global impact of the mechanism.
- Global Warming Countermeasures Plan (2021): The JCM is strategically positioned in Japan's Plan for Global Warming Countermeasures, as outlined in the Cabinet Decision of October 2021. It plays a crucial role in achieving Japan's NDC and aims to secure approximately 100 million t-CO2 in accumulated emission reductions and removals by fiscal year 2030.
Recommendations
- Enhanced Collaboration: Strengthen public-private collaborations to maximize the impact of the JCM in achieving emission reduction targets and supporting sustainable development.
- Continuous Communication: Sustain engagement with developing countries, fostering partnerships and knowledge exchange to expand the reach and effectiveness of the JCM.
- Monitoring and Reporting: Implement robust monitoring and reporting mechanisms to ensure the accurate quantification of emission reductions, providing transparency and accountability.
- Capacity Building: Invest in capacity-building initiatives in partner countries to enhance their ability to adopt and benefit from decarbonizing technologies and measures.