Joint Crediting Mechanism
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Joint Crediting Mechanism (JCM) is a bilateral initiative launched by the Government of Japan in 2013 to facilitate greenhouse gas emission reductions in collaboration with partner countries. It aims to promote the dissemination of advanced low-carbon technologies in developing countries, quantify the resulting emission reductions, and allow Japan to use part of the reductions to meet its emission targets for 2020 and 2030.[1]
Unlike the Clean Development Mechanism under the Kyoto Protocol, JCM allows developing countries to act as joint implementers rather than just hosts. As of June 2016, Japan had established partnerships with 16 countries, including Indonesia, Vietnam, and Ethiopia. Each JCM partnership is governed by a Joint Committee (JC) composed of representatives from both countries, responsible for approving methodologies and issuing credits based on emission reductions below a defined business-as-usual (BAU) level. These credits are not tradable internationally but may be counted towards Japan’s national targets under the Paris Agreement.[2][3][4]