Japan and the Republic of Azerbaijan sign the Memorandum of Cooperation for establishing the JCM
On September 5, 2022, Mr. WADA Junichi, Ambassador of Extraordinary and Plenipotentiary of Japan to the Republic of Azerbaijan and Mukhtar BABAYEV, Minister of Ecology and Natural Resources of the Republic of Azerbaijan signed the Memorandum of Cooperation on the Joint Crediting Mechanism (JCM) in the Republic of Azerbaijan. As a result, the JCM will be officially launched in the Republic of Azerbaijan, becoming the twentieth partner country along with Mongolia, Bangladesh, Ethiopia, Kenya, Maldives, Viet Nam, Lao PDR, Indonesia, Costa Rica, Palau, Cambodia, Mexico, Saudi Arabia, Chile, Myanmar, Thailand, Philippines, Senegal, and Tunisia.
Going forward, under the JCM with Azerbaijan, Japan will contribute to the achievement of the NDC (nationally determined contribution) of both countries by leading decarbonizing technologies and infrastructure, etc. in Azerbaijan. In addition, Japan will contribute to global decarbonization, by implementing the JCM as a market mechanism under Article 6 of the Paris Agreement, promoting greenhouse gas emission reductions and removals on a global scale, and promoting sustainable development.
Press release by Ministry of the Environment, Japan