Prelims: Current events of national and international importance
Why in News?
Recently, India and Japan have finalized and adopted the Rules of Implementation for the Joint Crediting Mechanism (JCM).
JCM – It is a bilateral framework designed to promote the adoption of advanced low-carbon technologies, systems, and infrastructure through investments by Japanese organizations while supporting sustainable development in partner countries.
Proposed by – Japan.
Launched in – 2013.
International Backing – The mechanism functions in accordance with Article 6 of the Paris Agreement.
It helps both participating countries achieve their Nationally Determined Contributions (NDCs).
It does so by quantifying Japan’s contribution to greenhouse gas emission reductions and allocating a portion of the resulting carbon credits to Japan.
Operates under – The framework of the United Nations Framework Convention on Climate Change.
It complements existing international carbon market mechanisms such as the Clean Development Mechanism and Joint Implementation.
Currently, India is among the 31 partner countries participating in the JCM.
Focus Areas – The mechanism prioritizes cooperation in key decarbonization sectors, including:
Renewable energy integrated with energy storage systems
Sustainable aviation fuel (SAF)
Compressed biogas (CBG)
Green hydrogen
Green ammonia
Hard-to-abate industrial sectors with high carbon emissions
Through these focus areas, the JCM aims to accelerate climate action, support clean energy transitions, and promote sustainable economic growth among participating countries.
