Press Release

Formulation of "MoEJ Initiative for Decarbonized Infrastructure"

June 15, 2021

As we face the two global crises of the coronavirus pandemic and climate change, the world is undergoing a rapid socio-economic re-design, as seen with in green recovery, and has triggered a large-scale competition for the development of decarbonization technologies and market acquisition.

As the public and private sectors cooperate towards achieving carbon neutrality by 2050, there is a growing expectation for JCM (Joint-Crediting Mechanism), allowing GHG emission reductions to be realized in partner countries to contribute to the achievement of Japan's emissions reduction goal.

In light of this situation, MoE Japan is strengthening key public-private partnerships to promote the development of "environmental infrastructures" overseas through JCM.

JCM will also benefit the private sector as it is a useful system enabling private companies to utilize GHG reductions overseas to achieve their own carbon neutrality goal (guidance is to be developed for the utilization of private funds).

At a press conference on the 15th, Minister Koizumi stressed that "we want to express our intention to promote to not coal-fired power but decarbonized infrastructure. We aim to support companies to make such action."

Aiming for a cumulative GHG emission reduction of about 100 million tons of CO2 from JCM projects through public-private partnerships (maximum project size of about 1 trillion yen through public-private partnerships with a diversification of funds accelerating the implementation of projects).

To achieve the above, MoE will implement 4 actions to create favorable conditions for a diverisity and large scale JCM projects.

① Lead Formulation of Global Rules

② Diversification of Funds

③ Global and Regional Expansion

④ Facilitate Decarbonization Market

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