Approval of Grant Financing from the Japan Fund for the Joint Crediting Mechanism to the Accelerating Sustainable System Development Using Renewable Energy (ASSURE) Project in the Maldives by the Asian Development Bank

　MOE Japan has funded the JFJCM, established in the ADB in FY2014, in order to promote the diffusion of leading decarbonizing technologies, utilizing ADB’s portfolio. By supporting incremental costs of leading decarbonizing technologies through JFJCM, MOE Japan contributes to the diffusion/expansion of these technologies in developing countries in Asia and the Pacific, and promotes the development of JCM projects.
　In March 2015, the first JFJCM-funded project “Introduction of Smart Mini Grid System at Addu City” was approved under the POISED* project. As a succeeding project using JFJCM, the Accelerating Sustainable System Development Using Renewable Energy (ASSURE) Project in the Maldives was approved on September 12, 2023. In this project, microgrid technology using advanced flow batteries will be introduced on two selected islands and a pilot project for ocean renewable energy generation technologies will be implemented.
*Preparing Outer Islands for Sustainable Energy Development

(1) Country/region where the project will be implemented	・Advanced flow BESS for two outer islands, namely Ha. Dhidhdhoo and F. Nilandhoo, in Maldives
(2) Overview of technologies to be introduced	・Flow BESS ・Ocean renewable energy
(3) Expected amount of emission reductions	・Approx. 4,500 tCO2-equivalent per year

(Reference) Joint Crediting Mechanism (JCM)
The Joint Crediting Mechanism (JCM) was established 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. At present, Japan implements the JCM with 27 countries (Mongolia, Bangladesh, Ethiopia, Kenya, Maldives, Viet Nam, Lao PDR, Indonesia, Costa Rica, Palau, Cambodia, Mexico, Saudi Arabia, Chile, Myanmar, Thailand, Philippines, Senegal, Tunisia, Azerbaijan, Moldova, Georgia, Sri Lanka, Uzbekistan, Papua New Guinea, the United Arab Emirates and Kyrgyz Republic).

　In cooperation with the Government of Maldives, the Ministry of the Environment (MOE), Japan and ADB will proceed with the procedures to register this project as a Joint Crediting Mechanism (JCM) project.