Joint Press Release with the Ministry of the EnvironmentOperation of Domestic Systems for the JCM Started
In order to fully operate the Joint Crediting Mechanism (JCM), it is necessary to establish domestic systems for appropriately managing JCM credits, which are issued in response to the implementation of various projects using advanced low-carbon technologies to reduce greenhouse gas emissions. Therefore, on November 13, 2015, the Implementation Guidelines for the JCM, which stipulate domestic rules concerning the management of JCM credits, including the issuance and transfer of JCM credits, became effective, and the operation of the JCM registry system for managing JCM credits started.
1. Domestic Systems for the JCM
As for JCM signatory countries, currently 15 countries including Asian, African, and Latin American and Caribbean countries have signed bilateral documents regarding the introduction of the Mechanism and started its actual operation. In order to fully operate the JCM, it is indispensable to establish domestic systems for developing domestic rules and for appropriately managing JCM credits, which are issued in response to the implementation of various projects using advanced low-carbon technologies to reduce greenhouse gas emissions.
2. Outline of the Guidelines for the Implementation of the JCM (Appendix)
The Guidelines for the Implementation of the JCM stipulates rules that the offices and ministries in charge of the implementation of the JCM and the account-holding entities (entities that have had entity holding accounts opened in the JCM registry system) should observe when handling JCM credits such as when issuing and transferring JCM credits. In the future, the Ministry of Economy, Trade and Industry (METI) is to conduct the operation of the JCM, such as issuing and transferring JCM credits, in line with the Guidelines as one of the offices and ministries in charge of the implementation of the JCM.
When formulating these Guidelines, METI, in collaboration with the Ministry of the Environment (MOE), held discussions at meetings of study groups composed of experts as well as calling for public comments.
3. Outline of the JCM registry system
The JCM registry system is an information system built to appropriately manage JCM credits. Parties including participants in JCM projects can open accounts in the JCM registry system and hold JCM credits. Also, users other than account-holding entities are allowed to see the publicly disclosed portions of the registry such as the names of account-holding entities in the JCM registry system.
URL of the JCM registry system website: https://www.jcmregistry.go.jp/
Implementation Guidelines for the JCM
(Reference) Joint Crediting Mechanism (JCM)
The JCM quantitatively evaluates Japan’s contributions to the reduction and absorption of greenhouse gas emissions, which are realized through the dissemination of technologies and related measures, products, systems, services, and infrastructure used to mitigate greenhouse gas emissions in developing countries. In addition, the JCM is utilized to achieve Japan’s reduction targets.
A total of 15 countries have signed the JCM so far, namely, Mongolia, Bangladesh, Ethiopia, Kenya, the Maldives, Viet Nam, the Lao People’s Democratic Republic, Indonesia, Costa Rica, Palau, Cambodia, Mexico, Saudi Arabia, Chile, and Myanmar. They are proceeding with preparations such as feasibility studies and demonstration projects for the organization of specific projects for implementing the JCM.
For more information, visit the following website:
http://www.meti.go.jp/policy/energy_environment/global_warming/global.html (in Japanese)
(Reference) Outline of meetings of a study group composed of experts concerning the Implementation Guidelines for the JCM:
November 13, 2015
Division in charge
Global Environmental Partnership Office, Industrial Science and Technology Policy and Environment Bureau