The Ministry of Environment is strengthening public-private partnerships through the development of Joint Crediting Mechanism (JCM), allowing GHG emission reductions to be realized in partner countries to successfully achieve Japan’s emissions reduction goal.
The instrument aims at cutting 100 million tons of CO2 from JCM projects through public-private partnerships, with 4 actions laid out by the Ministry to create favorable conditions for diverse and large-scale JCM projects, including:
- Lead formulation of global rules;
- Diversification of funds;
- Dlobal and regional expansion;
- Facilitate decarbonization market.