India and Japan have signed a Memorandum of Cooperation (MoC) to implement a Joint Crediting Mechanism:
India and Japan have signed a Memorandum of Cooperation (MoC) to implement a Joint Crediting Mechanism (JCM), advancing low-carbon technology projects.
- Joint Crediting Mechanism (JCM) is a Japanese initiative that invests in low-carbon technologies in developing nations.
- Emission reductions achieved are credited partly to Japan’s account, helping it meet its emission-reduction commitments.
- Objectives
- Facilitate flow of Japanese low-carbon technologies to India.
- Encourage financial flows for green projects and infrastructure.
- Strengthen domestic skills in handling advanced climate technologies.
- Enable India to trade credits with Japan under Article 6.2 of Paris Agreement.
- Support India’s shift towards clean energy and climate resilience.
