Why in news?
At COP30 held in Belém, Brazil, India and Japan emphasized how JCM helps countries work together to reduce carbon emissions and share the benefits of such projects.
 
About Joint Crediting Mechanism (JCM)

• The JCM is a bilateral initiative launched by the Government of Japan in 2013 to facilitate global greenhouse gas (GHG) emission reductions through cooperation with developing and other partner countries.
• The JCM promotes the diffusion of advanced low-carbon technologies, products, systems, and infrastructure, while supporting sustainable development in partner countries.

Key Features of JCM

• Bilateral Cooperation: The JCM is a government-to-government mechanism, with both countries jointly overseeing project selection, implementation, and credit allocation.
• Technology Transfer: The mechanism emphasizes the transfer of advanced low-carbon technologies, fostering innovation and capacity building in partner countries.
• Quantifiable Credits: Emission reductions are quantified and credited, providing a transparent and measurable way to track climate action.
• Sustainable Development: Projects under the JCM are designed to contribute to the sustainable development of partner countries, aligning climate action with broader development goals.​

Significance of JCM

• Climate Action: It enables Japan to meet its international climate commitments by leveraging emission reductions achieved abroad.
• Technology Transfer: It promotes the adoption of advanced low-carbon technologies in developing countries, accelerating their transition to sustainable development.
• Bilateral Relations: The mechanism strengthens bilateral ties between Japan and partner countries, fostering cooperation on climate change and sustainable development.​

Japan has signed JCM agreements with 31 countries, including India, Indonesia, Vietnam, Bangladesh, and Ethiopia. These partnerships have led to the implementation of numerous projects in sectors such as renewable energy, energy efficiency, and waste management. 

Download Pdf