Preliminary Selection Result for Financing Programme for JCM Model Projects in FY2020 (additionally selected for 1st Selection)
Global Environment Centre Foundation (GEC) as an implementing organization for the Financing Programme for Joint Crediting Mechanism (JCM) Model Projects in FY2020, has been solicited proposals for the financing programme and is announcing an additional selection of 1 project. The project was selected as the 1st Selection in addition to the 10 projects announced on 6 July.
Purpose of Programme
Japan establishes and implements the Joint Crediting Mechanism (hereinafter referred to as “the JCM”) in order both to appropriately evaluate contributions from Japan and to greenhouse gas (GHG) emission reductions or removals in a quantitative manner achieved through the diffusion of low carbon or decarbonizing technologies, products, systems, services, and infrastructure as well as implementation of mitigation actions in developing countries.
Starting from Mongolia in January 2013, Japan has established the JCM with 17 partner countries (Mongolia, Bangladesh, Ethiopia, Kenya, Maldives, Viet Nam, Lao PDR, Indonesia, Costa Rica, Palau, Cambodia, Mexico, Saudi Arabia, Chile, Myanmar, Thailand and Philippines) at this moment.
In order to support the implementation of candidate JCM projects, Ministry of the Environment, Japan (hereinafter referred to as “MOEJ”) has been implementing the “JCM Model Projects (hereinafter referred to as “model project”),” which includes collaboration with projects supported by the Japan International Cooperation Agency (JICA) and government-affiliated financial institutions.
The purpose of this model project is to financially support the implementation of projects which reduce GHG emissions by utilizing leading low carbon or decarbonizing technologies in developing countries, and in return, to acquire JCM credits for achievement of Japan’s GHG emission reduction target. Moreover, along with the Overseas Development Strategy (Environment) compiled by Cabinet Office in June 2018, the JCM model project aims to contribute to global GHG emission reductions, through the diffusion of leading low carbon or decarbonizing technologies.
Overview of Selected Project
GEC is accepting project proposals for FY2020 between 6 April 2020 and 30 October 2020. After reviewing proposals and conducting hearing, GEC selected the proposal listed below. GEC will further examine the project contents and provide a notice to the representative participants for the final decision before the proposed projects are implemented.
<Project Selected in the First Selection (additionally selected)>
|No.||Partner Country||Representative Participant||Project Title||Expected GHG Emission Reductions (tCO2/year)|
|1||Saudi Arabia||Marubeni Corporation||400MW Solar Power Project in Rabigh Region||477,129|
1. About Joint Crediting Mechanism (JCM)
- Carbon Markets Express : Joint Crediting Mechanism (JCM)
- Global Environment Centre Foundation: Overview of JCM
2. Speech by Prime Minister Shinzo Abe at COP21
“…many of the advanced low-carbon technologies do not generally promise investment-return to developing countries. Japan will, while lowering burdens of those countries, promote diffusion of advanced low carbon technologies particularly through implementation of the Joint Crediting Mechanism (JCM).”
For the full text of his speech, please click here.
For further information, please contact:
Attn: Hiroshi TAKAHASHI, Masami ISHIHARA
Financing Programme Group, Tokyo Office Global Environment Centre Foundation (GEC)
4th Floor Hongo Ozeki Bldg., 3-19-4 Hongo Bunkyo-ku, Tokyo 113-0033, Japan