Second Issuance of Internationally Transferred Mitigation Outcomes (ITMOs) under the Joint Crediting Mechanism (JCM) and the Result of the 5th Joint Committee Meeting between Japan and the Republic of Maldives

　On December 16, 2025, the Government of Japan issued "Internationally Transferred Mitigation Outcomes (ITMOs)"—the second set of credits consistent with the Article 6 of the Paris Agreement issued under the Joint Crediting Mechanism (JCM) (＊1)—to the government-holding account in the JCM registry of Japan.

　The ITMOs issuance was realized by the approval by the Government of Maldives of the international transfer of credits issued to the JCM registry of Maldives, based on the adoption of revised rules and guidelines for the JCM consistent with Article 6 of the Paris Agreement at the 5th Joint Committee Meeting between Japan and the Maldives held in Male, Maldives on December 16, 2025, and the determination of the amount of JCM credits to be issued from the following projects:
 

Title of the project	Introduction of Smart Mini Grid System at Addu City (MV002)
Project participants	Ministry of Tourism and Environment, Maldives Fenaka Corporation Limited
Monitoring period	December 2, 2021 – October 31, 2022
Credits approved for issuance	750 tCO2eq out of which 433 tCO₂eq were acquired by the Government of Japan (ITMOs)

　This project involved the introduction of a high-performance energy management system (EMS) and high-performance lithium-ion batteries, utilizing the JFJCM contributed by the Government of Japan to the ADB, for a project to introduce a 1.6 MW solar power generation system in Addu City, the second most populous city in the Maldives.

　This project is a pioneering initiative contributing to the expansion of renewable energy adoption in the island nation of the Maldives, demonstrating further potential for renewable energy expansion in island nations.

　* Please also refer to the attached materials for an overview of the above project.

　Japan established its first JCM with Mongolia in 2013, while negotiations for the Paris Agreement were ongoing. Currently, Japan has 31 JCM partner countries (＊2), with over 290 projects implemented globally. This issuance represents the realization of Article 6 of the Paris Agreement on market mechanisms, achieved through years of institutional and practical development between Japan and its partner countries. It contributes to Japan's NDC achievement while also supporting partner countries' NDC fulfillment and sustainable development.
　Recognizing that global cooperation is essential to address the global challenge of climate change, Japan will continue to steadily implement the JCM, working with Japanese companies to reduce global greenhouse gas emissions worldwide.

　Regarding the issued credits, to avoid double counting towards reduction targets, they will be appropriately counted towards achieving Japan's NDC, which has the target year of fiscal year 2030, in accordance with the "Procedures for Corresponding Adjustments regarding the Joint Crediting Mechanism" (revised in March 2025) established by the JCM Promotion and Utilization Council following decisions by the Conference of the Parties to the Paris Agreement.

＊1 JCM: Consistent with Article 6 of the Paris Agreement, the JCM promotes the dissemination of advanced decarbonization technologies and infrastructure, and implements mitigation activities in partner countries while contributing to their sustainable development. It quantitatively evaluates Japan's contribution to greenhouse gas emission reductions or removals achieved through mitigation activities in partner countries, thereby supporting the achievement of emission reduction targets for both Japan and its partner countries.
 
＊2 JCM Partner Countries: Mongolia, Bangladesh, Ethiopia, Kenya, Maldives, Vietnam, Laos, Indonesia, Costa Rica, Palau, Cambodia, Mexico, Saudi Arabia, Chile, Myanmar, Thailand, Philippines, Senegal, Tunisia, Azerbaijan, Moldova, Georgia, Sri Lanka, Uzbekistan, Papua New Guinea, United Arab Emirates, Kyrgyz Republic, Kazakhstan, Ukraine, Tanzania, and India.