On November 18, 2022, NISHIMURA Akihiro, Minister of the Environment, Japan, and H.E. Mr. Simo Kilepa, Minister for Environment, Conservation and Climate Change of the Independent State of Papua New Guinea signed the Memorandum of Cooperation on the Joint Crediting Mechanism (JCM) in Egypt, the Presidency of the 27th Conference of the Parties (COP27) to the United Nations Framework Convention on Climate Change (UNFCCC). As a result, the JCM will be officially launched in Papua New Guinea, becoming the twenty-fifth 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, Tunisia, Azerbaijan, Moldova, Georgia, Sri Lanka, and Uzbekistan.

  Going forward, under the JCM with Papua New Guinea, Japan will contribute to the achievement of the NDC (nationally determined contribution) of both countries by leading decarbonizing technologies and infrastructure, etc. in Papua New Guinea. 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
https://www.env.go.jp/en/press/press_00744.html