The 2nd AZEC (Asia Zero Emission Community) International Conference to Promote the JCM and Develop Carbon Markets Held

1. Overview of the AZEC-JCM International Conference

(1) The Government of Japan has been promoting the JCM as a means of achieving Japan’s reduction targets by quantitatively evaluating Japan’s contribution to greenhouse gas emission reductions and removal achieved in developing countries and other regions through the dissemination or popularization of Japan’s leading technologies, products, systems, services, and infrastructure for decarbonization to such countries.

(2) At the First AZEC-JCM International Conference held in Tokyo in September 2023, policy makers from energy and environmental departments of AZEC partner countries participated in person and online, exchanging information and views on the progress of the JCM, carbon market development and energy policies in their countries.

(3) In the Joint Statement issued at the AZEC Leaders Meeting held in last December, the leaders recognized the importance of promotion and implementation of high integrity carbon markets and crediting schemes through collaboration models, including the JCM. At the 2nd Asia Zero Emission Community Senior Officials Meeting (AZEC SOM) held in March this year, the overview of the 1st AZEC-JCM International Conference was reported, and a report summarizing the discussions held at the meeting was shared with the participants from each country.

(4) The recent 2nd AZEC-JCM International Conference was held as an ongoing effort for promoting the utilization of the JCM and building carbon markets, aiming to contribute to the decarbonization of industrial players in AZEC partner countries.

2. Key points of the conference

(1) On Tuesday, August 6, and Wednesday, August 7, the METI and the MOE jointly held the 2nd AZEC-JCM International Conference in Tokyo. The in person and online conference brought together AZEC partner country officials from energy and environmental ministries and agencies (participants were from Australia, Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, the Philippines, Singapore, Thailand, and Viet Nam).

(2) At the conference, participants exchanged information and views on six topics: [i] Recent development on energy policy in partner countries, [ii] Progress on the JCM* and other bilateral cooperation [iii] Development on carbon markets in partner countries, [iv] Collaboration with private sectors in AZEC, [v] Status on implementing Article 6 of the Paris Agreement, and [vi] Cooperation  among AZEC partner countries (e.g., institutional arrangement for promoting credit transactions).

*Note: Japan has established and is operating the JCM with Cambodia, Indonesia, Lao PDR, the Philippines, Thailand, and Viet Nam among AZEC partner countries.

Japan will continue to promote the utilization of the JCM in AZEC and support to advance decarbonization in Asia in collaboration with AZEC partner countries.

Division in Charge

Global Environmental Affairs Office, GX Policy Group