Joint Crediting Mechanism (JCM) between India and Japan

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Joint Crediting Mechanism (JCM) between India and Japan

News:

India and Japan adopted the Rule of Implementation for the Joint Crediting Mechanism (JCM) on 8 June 2026 under Article 6.2 of the Paris Agreement, operationalizing the Memorandum of Cooperation signed between the two countries in 2025.

What is the Joint Crediting Mechanism (JCM)?

1. A bilateral carbon market mechanism between India and Japan.
2. Facilitates implementation of projects that reduce or remove greenhouse gas emissions.
3. Supports achievement of the Nationally Determined Contributions (NDCs) of both countries.
4. Promotes sustainable development while generating carbon credits.

Article 6.2 of the Paris Agreement:

1. Allows countries to cooperate voluntarily in achieving their NDCs.
2. Enables transfer of Internationally Transferred Mitigation Outcomes (ITMOs) between countries.
3. Promotes cost-effective global emission reductions.
4. Requires robust accounting and transparency mechanisms.

Benefits for India:

1. Attracts Japanese investment in climate-friendly projects.
2. Facilitates transfer of advanced low-carbon technologies.
3. Enhances capacity building and technical cooperation.
4. Supports India's climate mitigation efforts.
5. Encourages sustainable development alongside economic growth.

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