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Madrid, Spain - The 7th JCM partner countries' high-level meeting was held at the Japan Pavilion for COP25 on December 12, 2019.

The meeting was attended by representatives of the Joint Crediting Mechanism (JCM) partner countries including Mr. Koizumi, Minister of the Environment, Japan; Mr. Md. Shahab Uddin, Minister of Environment, Forest and Climate Change, Bangladesh; and Dr. BATJARGAL Zamba, Special Envoy of Mongolia on Climate change.

Mr. Koizumi highlighted the JCM as a pioneering mechanism under Article 6, paragraph 2 of the Paris Agreement and importance of market mechanisms for raising ambition and accelerating actions against climate emergency. He also emphasized that the JCM is contributing not only to mitigation but also to sustainable development of partner countries. As a new initiative, he announced the introduction of guidelines on gender for selecting JCM model projects.

Mr. Uddin, Minister of Environment, Forest and Climate Change, Bangladesh welcomed the recent development of the JCM and Japan's contributions to the energy efficiency projects in Bangladesh.

About the Joint Crediting Mechanism:

• The Joint Crediting Mechanism (JCM) aims to facilitate diffusion of leading low carbon technologies, products, systems, services, and infrastructure as well as implementation of mitigation actions, and contribute to sustainable development of developing countries. Also, it appropriately evaluates contributions to GHG emission reductions or removals from Japan in a quantitative manner, by applying measurement, reporting and verification (MRV) methodologies, and uses them to achieve Japan's emission reduction target.
• Currently, there are 17 partner countries including Mongolia, Bangladesh, Ethiopia, Kenya, Maldives, Viet Nam, Lao PDR, Indonesia, Costa Rica, Palau, Cambodia, Mexico, Saudi Arabia, Chile, Myanmar, Thailand and Philippines.
• Apart from contributions achieved through private-sector based projects, accumulated emission reductions or removals by FY 2030 through governmental JCM programs to be undertaken within the government's annual budget are estimated to be ranging from 50 to 100 million t-CO2.

Learn more about the JCM:

https://www.carbon-markets.go.jp/eng/jcm/

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Contact information:

Maiko UGA

Office of Market Mechanisms,

Climate Change Policy Division,

Global Environmental Bureau

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