Press Release

February 19, 2024
  • Global Environment

Japan and Ukraine Sign the Memorandum of Cooperation for Establishing the JCM

1.On February 19, 2024, ITO Shintaro, Minister of the Environment, Japan, and H.E. Mr. Ruslan STRILETS, Minister of Environmental Protection and Natural Resources of Ukraine, signed the Memorandum of Cooperation on the Joint Crediting Mechanism (JCM) on the margins of the Japan-Ukraine Conference for Promotion of Economic Reconstruction held in Tokyo. As a result, the JCM will officially launch in Ukraine, making it the twenty-ninth partner country along with Mongolia, Bangladesh, Ethiopia, Kenya, Maldives, Viet Nam, Lao PDR, Indonesia, Costa Rica, Palau, Cambodia, Mexico, Saudi Arabia, Chile, Myanmar, Thailand, the Philippines, Senegal, Tunisia, Azerbaijan, Moldova, Georgia, Sri Lanka, Uzbekistan, Papua New Guinea, the United Arab Emirates, Kyrgyz, and Kazakhstan.

2.Japan will contribute to the achievement of the nationally determined contributions (NDCs) of both countries by implementing emission reduction projects, etc. in Ukraine through the JCM. In addition, Japan will contribute to global decarbonization by implementing the JCM as a market mechanism consistent with Article 6 of the Paris Agreement, promoting greenhouse gas emission reductions and removals on a global scale as well as sustainable development. 

【Outline of the Memorandum of Cooperation】

・ In order to pursue the Paris Agreement temperature goal and to enhance bilateral cooperation in addressing climate change, the Government of Japan and the Government of Ukraine establish and implement the Joint Crediting Mechanism (JCM). 
・ Both governments mutually recognize that a part of the JCM credits issued from emission reductions and removals under the JCM may be used towards the achievement of Japan's NDC as internationally transferred mitigation outcomes consistent with the guidance on cooperative approaches referred to in Article 6.2 of the Paris Agreement.
・ Both governments ensure the transparency and environmental integrity of the JCM and maintain it simple and practical.

【Reference 1】Positioning of the JCM in the Plan for Global Warming Countermeasures (Cabinet decision, October 2021) (Available in Japanese)

・ Japan will establish and implement the JCM 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. By doing so, through public-private collaborations, Japan aims to secure accumulated emission reductions and removals at the level of approximately 100 million t-CO2 by fiscal year 2030. Japan will appropriately count the acquired credits to achieve its NDC.

【Reference 2】Grand Design and Action Plan for a New Form of Capitalism and Follow-up (Cabinet decision, June 2022)

“For the expansion of the JCM, the government of Japan accelerates consultations with relevant countries, aiming to increase the JCM partner countries up to around 30 by 2025.”