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Joint Press Release with the Ministry of Foreign Affairs and the Ministry of the EnvironmentJapan and Palau Signed a Carbon Reduction PartnershipFor Promoting the Joint Crediting Mechanism

On January 13, 2014, a document concerning the Joint Crediting Mechanism (JCM) was signed in the Republic of Palau by H.E. Mr. Nobuteru Ishihara, Minister of the Environment, and H.E. Mr. Charles Obichang, Minister of Public Infrastructure, Industry and Commerce, Palau.

1. Signing of the Japan-Palau Partnership:

On January 13, 2014, a document concerning the JCM, a Memorandum of Cooperation on the Carbon Reduction Partnership between the Government of Japan and the Government of Republic of Palau, was signed by Minister Ishihara and Minister Obichang.

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 Palau, utilizing Japan’s low-carbon technology. Through the mechanism, Japan will contribute not only to Palau’s environment and economic growth but also to international efforts to prevent global warming.

2. Outline of the bilateral document

  • To promote the Carbon Reduction Partnership between Japan and Palau, both sides will establish the JCM and also establish a joint committee to operate it.
  • Both governments recognize that verified emission reductions or removal from the mitigation projects under the JCM can be used as a part of their own internationally pledged greenhouse gas mitigation efforts.
  • Both governments 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 climate mitigation mechanisms.

Reference: 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 Japan’s 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-Palau partnership is the tenth partnership signed by Japan for this purpose following the partnerships signed with Mongolia, Bangladesh, Ethiopia, Kenya, the Maldives, Viet Nam, Lao PDR, Indonesia and Costa Rica.

For more information, visit the following website:
http://www.meti.go.jp/english/policy/energy_environment/global_warming/challenges.html#jcm_bocm

Appendices

Note: The term “Joint Crediting Mechanism” is a simplified expression of the Bilateral Offset Credit Mechanism.

Release Date

January 13, 2014

Division in Charge

Global Environmental Partnership and Technologies Office, Industrial Science and Technology Policy and Environment Bureau

Ministry of Economy, Trade and Industry
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