Joint Press Release with the Ministry of Foreign Affairs and the Ministry of the EnvironmentJapan and Mexico Signed a Memorandum of Cooperation concerning the Joint Crediting Mechanism
On July 26 (25 local time), 2014, a memorandum of cooperation concerning the Joint Crediting Mechanism (JCM) was signed in the United Mexican States by H.E. Mr. Shuichiro Megata, Ambassador Extraordinary and Plenipotentiary of Japan to Mexico, and H.E. Mr. Juan José Guerra Abud, Minister of Environment and Natural Resources, Mexico.
1. Agreement concluded between Japan and Mexico
On July 26(25 local time), 2014, a memorandum of cooperation concerning the JCM (Memorandum of Cooperation between Japan and the United Mexican States concerning the Low Carbon Growth in Mexico) was signed in Mexico by Ambassador Megata and Minister Abud.
Both countries will establish a joint committee to operate the JCM. Under this mechanism, Japan will implement various projects that will reduce greenhouse gas emissions in Mexico, utilizing low-carbon technology. Through the mechanism, Japan will contribute not only to Mexico’s environment and economic growth but also to international efforts to prevent global warming.
2. Outline of the memorandum
The outline of the memorandum is as follows. For the original text, see the Appendix.
- To promote the Low Carbon Growth Partnership between Japan and Mexico, both sides will establish the JCM and also establish a joint committee to operate it.
- Both sides recognize that the verified emission reductions or removals of greenhouse gas that results from the mitigation projects under the framework of the JCM can be used to quantify their own efforts of reducing greenhouse gas on an international basis, as approved by the JC for each project.
- Both sides ensure transparency and the environmental integrity of the JCM and that neither side will use any mitigation projects registered under the JCM for the purpose of any other international mechanisms of emission mitigation in order to avoid the double counting of reductions or removals of greenhouse gas.
Reference: The Joint Crediting Mechanism
The Joint Crediting Mechanism (JCM) is a program in which Japan’s contribution to the reduction and removal of greenhouse gas emissions in partner countries through transferring low-carbon technology and products is calculated and evaluated as credits for contribution. Currently, the Ministry of Foreign Affairs (MOFA), the Ministry of Economy, Trade and Industry (METI), and the Ministry of the Environment (MOE) are jointly proceeding with bilateral negotiations with countries that are interested in the mechanism. This Japan-Mexico partnership is the 12th partnership signed by Japan for this purpose following the partnerships signed with Mongolia, Bangladesh, Ethiopia, Kenya,Maldives, Viet Nam, Lao PDR and Indonesia, Costa Rica, Palau, and Cambodia.
For more information, visit the following website:
- Memorandum of Cooperation between Japan and the United Mexican States concerning the Low Carbon Growth in Mexico(PDF:18KB) (full text of the document)
Note: The name of the program has been changed from the “Bilateral Offset Credit Mechanism” to the “Joint Crediting Mechanism” to describe it in simpler terms.
July 26, 2014
Division in Charge
Global Environment Partnership Office, Industrial Science and Technology Policy and Environment Bureau