Japan

Japan will establish and implement the Joint Crediting Mechanism (JCM) in order to quantitatively evaluate contributions of Japan to greenhouse gas 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 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. Japan will appropriately count the acquired credits to achieve its NDC.

With regards to the JCM which Japan has initiated to establish, Japan secures environmental integrity and the avoidance of double-counting in line with the international rules including the Paris Agreement. Also, based on its experience in the JCM, Japan intends to lead international discussions, thereby contributing to the development of appropriate international rules for the use of market mechanisms. Furthermore, Japan will also make proactive efforts in the area of international cooperation to promote decarbonization and to improve resilience in developing countries and others, including from developing policies and institutional platforms to promoting sector- and city-level efforts as well as facilitating technology diffusion.