Candidate Project Selected for Feasibility Study for the Joint Crediting Mechanism for Reducing Emissions from Deforestation and Forest Degradation-plus
To establish the Joint Crediting Mechanism (JCM), the Ministry of Economy, Trade and Industry (METI) called for the submission of candidate projects for the FY 2015 Study of Countermeasures against Global Warming (Feasibility Study (FS) for the JCM for Reducing Emissions from Deforestation and Forest Degradation-plus (REDD+)), and it has selected a project through fair examination by an external third-party committee. METI hereby announces the project; this is the first project in Viet Nam to be selected for the study.
1. Outline of the FY 2015 FS for the JCM
The Government of Japan has promoted the establishment of the JCM with developing countries, aiming to proactively encourage the dissemination of excellent low-carbon technology and products to developing countries, so as to promote measures for global warming mitigation worldwide.
For the purpose of preventing deforestation and forest degradation, which have caused significant emissions of CO2 in many developing countries, plus additional measures (collectively known as REDD+), this FS intends to examine the feasibility of concrete cooperation in cases where Japanese enterprises are undertaking work in related business fields, applicable methods of measuring the amount of greenhouse gas emissions reduced …and ideal approaches to making other environmental improvements, while also investigating the potential contributions of Japanese enterprises in the field of REDD+.
It is expected that the implementation of this FS will lead to full-scale REDD+ activities under the JCM.
2. Selection process and result
Invitation period: From June 25 (Thu.), 2015 to July 27 (Mon.), 2015
Number of applications: 5
Selected candidate project: 1 project (the first project in Viet Nam for this FS)
3. Details of the successful candidate project
|Target country for the FS||Companies||Outline of proposed project|
|Viet Nam||Kanematsu Corporation and JAPAN NUS Co., Ltd.||Site: Ca Mau, Vietnam Feasibility study on a project to minimize deforestation, through productivity improvement and quality enhancement in manufacturing wood chip production.|
1. The selected candidate project received high scores from the third-party committee from the viewpoint of the importance/significance of the technology, feasibility of developing methodologies, and other factors.
2. The selected candidate project will be confirmed as the adopted project after the conclusion of a contracting agreement.
3. The name of the mechanism has been changed from the “Bilateral Offset Credit Mechanism” to the “Joint Crediting Mechanism” for simplification.
For details, see the Japanese language press release.
August 25, 2015
Division in Charge
Global Environment Partnership Office, Industrial Science and Technology Policy and Environment Bureau