Global Environment Centre Foundation (GEC) as an implementing organization for the Financing Programme for Joint Crediting Mechanism (JCM) Model Projects in FY2023, has been soliciting proposals for the financing programme and is announcing nine new selected projects in addition to the four projects in the first round (August 17, 2023), the four projects in the second round (October 5, 2023) and the five projects in the third round (February 2, 2024) .

JCM Outline

Since 2013, Japan has established the JCM with 29 partner countries and over 200 projects have been selected. The JCM’s 29 current partner countries are: Mongolia, Bangladesh, Ethiopia, Kenya, Maldives, Vietnam, Laos, Indonesia, Costa Rica, Palau, Cambodia, Mexico, Saudi Arabia, Chile, Myanmar, Thailand, Philippines, Senegal, Tunisia, Azerbaijan, Moldova, Georgia, Sri Lanka, Uzbekistan, Papua New Guinea, United Arab Emirates, Kyrgyz Republic, Kazakhstan, and Ukraine.

The JCM aims to reduce GHG emissions in developing countries and others by utilizing advanced decarbonizing technologies. Under the JCM scheme, in line with Article 6 of the Paris Agreement, Japan is facilitating the diffusion of leading decarbonizing technologies and infrastructure, etc. as well as the implementation of mitigation actions in partner countries. The JCM contributes to the achievement of Japan’s and partner countries’ NDCs while ensuring the avoidance of double counting through corresponding adjustments.

The JCM Model Projects of MOE Japan provide financial support of up to 1/2 of the initial investment cost for projects. Representative participants in the JCM Model Projects shall conduct measurement, reporting, and verification (MRV) of GHG emission reductions. In addition, this financing support programme is expected to contribute to global decarbonization by disseminating and deploying advanced decarbonizing technologies while ascertaining in detail the needs of partner countries.

These JCM activities are in accordance with the “Plan for Global Warming Countermeasures (Cabinet decision in October 2021),” the “MOE Japan Policy for Implementing Article 6 of the Paris Agreement after COP26 (November 2021)”, and the “Grand Design and Action Plan for a New Form of Capitalism and Follow-up (Cabinet decision in June 2022).”

(For further information of the JCM: https://www.jcm.go.jp/)

Overview of Selected Projects

   GEC accepted project proposals for FY2023 between 6 April 2023 and 30 November 2023. Nine new projects listed below were selected based on the results of reviewing proposals, conducting interviews, acceptance/rejection review and confirming that there is ‘no objection’ raised by the Joint Committee of respective partner countries. 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.

Projects Selected in the Fourth Selection

• • List of projects under the JCM Financing programme by MOEJ (FY2013-2023)
  • JCM Financing programme by MOEJ (FY2013~2023) *World Map

[Reference 1] Projects selected in the first round (August 17, 2023) https://gec.jp/jcm/kobo/mp230817/

[Reference 2] Projects selected in the second round (October 5, 2023) https://gec.jp/jcm/kobo/mp231005/

[Reference 3] Projects selected in the third round (February 2, 2024) https://gec.jp/jcm/kobo/mp240202/

[Reference 4] Positioning of the JCM in the Plan for Global Warming Countermeasures (Cabinet decision, October 2021) http://www.env.go.jp/earth/ondanka/keikaku/211022.html (Available in Japanese)

Japan will establish and implement the JCM in order to quantitatively evaluate contributions of Japan to GHG emission reductions and removals, which are achieved through the diffusion of, among others, leading decarbonizing technologies, products, systems, services, and infrastructures as well as through the implementation of measures in developing countries and others, and in order to use such contributions to achieve Japan’s Nationally Determined Contribution (NDC). By doing so, through public-private collaborations, Japan aims to secure accumulated emission reductions and removals at the level of approximately 100 million t-CO2 by fiscal year 2030.

[Reference 5] MOE Japan Policy for Implementing Article 6 of the Paris Agreement after COP26 (November 2021) https://www.env.go.jp/annai/kaiken/files/r04/cop26%206jou.pdf (Available in Japanese)

At COP26, the Rulebook for Article 6 (market mechanisms) of the Paris Agreement was concluded, paving the way for utilizing market mechanisms to reduce global emissions. Leading Article 6 negotiations and being a frontrunner with the experience of the Joint Crediting Mechanism (JCM), Japan will take the following three actions to contribute to global decarbonization.

< Three actions >
1. Expand JCM partner countries and strengthen project development and implementation in collaboration with international organizations
2. Scale up the JCM by mobilizing further private finance
3. Contribute to the global operationalization of market mechanisms.

[Reference 6] Grand Design and Action Plan for a New Form of Capitalism and Follow-up (Cabinet decision, June 2022) https://www.cas.go.jp/jp/seisaku/atarashii_sihonsyugi/pdf/fu2022.pdf (Available in Japanese)

For achieving the target of the JCM, accelerating consultations to expand partner countries up to approximately 30 countries worldwide by around 2025.

Organization Contacts

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
E-mail：jcm-info@gec.jp