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  5. Japan and Ukraine Sign a Memorandum of Cooperation Establishing a Joint Crediting Mechanism (JCM)

Japan and Ukraine Sign a Memorandum of Cooperation Establishing a Joint Crediting Mechanism (JCM)

Ukraine becomes the 29th JCM partner country

Japanese

February 19, 2024

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

Energy and Environment Policy

On February 19, 2024, Japan and Ukraine agreed to establish the Joint Crediting Mechanism (JCM), and Mr. Ito Shintaro, Minister of the Environment, and H.E. Mr. Ruslan Strilets, Minister of Environmental Protection and Natural Resources, Ukraine, signed a Memorandum of Cooperation (MoC) to establish this agreement. Ukraine is now the 29th JCM partner country.

Moving forward, Japan and Ukraine will further bolster their cooperation on the environment and energy through this JCM.

On February 19, 2024, Japan and Ukraine agreed to establish the JCM, and Minister Ito and Minister Strilets signed an 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. The mechanism also appropriately evaluates contributions from Japan to greenhouse gas emission reduction or removal in a quantitative manner, and it uses such contributions to achieve Japan’s 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 29 JCM partner countries.

*The prior 28 JCM partner countries: Mongolia, Bangladesh, Ethiopia, Kenya, Maldives, Viet Nam, Lao PRD, Indonesia, Costa Rica, Palau, Cambodia, Mexico, Saudi Arabia, Chile, Myanmar, Thailand, the Philippines, Senegal, Tunisia, Azerbaijan, Moldova, Georgia, Sri Lanka, Uzbekistan, Papua New Guinea, the UAE, Kyrgyz, and Kazakhstan. Ukraine is the 29th.

Through this JCM with Ukraine, Japan will start projects to reduce greenhouse gas emissions within Ukraine and help both countries achieve 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.

Appendix

Division in Charge

Global Environmental Affairs Office, Industrial Science, Technology and Environment Policy Bureau

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