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  5. Japan and Azerbaijan Sign the Memorandum of Cooperation for Establishing the Joint Crediting Mechanism (JCM)

Japan and Azerbaijan Sign the Memorandum of Cooperation for Establishing the Joint Crediting Mechanism (JCM)

Azerbaijan becomes the 20th JCM partner country

September 6, 2022

Joint press release with the Ministries of the Environment and Foreign Affairs

On September 5, 2022, Japan and Senegal agreed to establish the Joint Crediting Mechanism (JCM), and Mr. WADA Junichi (Ambassador Extraordinary and Plenipotentiary of Japan to Azerbaijan) and Mr. Mukhtar BABAYEV (Minister of Ecology and Natural Resources) signed the Memorandum of Cooperation (MoC) on this agreement. Azerbaijan is now the 20th JCM partner country.
Moving forward, Japan and Azerbaijan will bolster their cooperation on the environment and energy through this JCM.

On September 5, 2022, Mr. WADA Junichi, Ambassador Extraordinary and Plenipotentiary of Japan to Azerbaijan, and Mr. Mukhtar BABAYEV, Minister of Ecology and Natural Resources, signed the MoC to establish the JCM.

The JCM contributes to developing countries' sustainable development through diffusion of leading decarbonization technologies and implementation of mitigation actions within them. They also appropriately evaluate contributions from Japan to greenhouse gas emission reductions or removals in a quantitative manner, and use them to achieve its NDC (nationally determined contribution). Japan is accelerating consultations with relevant countries, aiming to increase the JCM partner countries up to around 30 by 2025. Thanks to this MoC, there are now 20 JCM partner countries.*

*The prior 19 JCM partner countries: Mongolia, Bangladesh, Ethiopia, Kenya, Maldives, Vietnam, Laos, Indonesia, Costa Rica, Palau, Cambodia, Mexico, Saudi Arabia, Chile, Myanmar, Thailand, the Philippines, Senegal, and Tunisia. Azerbaijan is the 20th.

Through this JCM with Azerbaijan, Japan will start projects to reduce greenhouse gas emissions within Azerbaijan and contribute to both countries achieving their NDCs. The JCM is implemented as a market mechanism—detailed in Article 6 of the Paris Agreement—and contributes to worldwide decarbonization efforts by encouraging countries around the world to reduce and remove greenhouse gas emissions and develop sustainably.

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