NEWS: India + Japan launched the Operational Manual for the Joint Crediting Mechanism (JCM), enabling full-scale project implementation.

ABOUT JCM

• Bilateral mechanism → Japan + developing countries.
• Promotes low-carbon technologies + infrastructure.
• Generates verified greenhouse gas emission reduction/removal credits.

FRAMEWORK

• Governed by Article 6.2 of the Paris Agreement.
• India–Japan Memorandum of Cooperation → August 2025.
• Rules of Implementation → June 2026.

HOW IT WORKS

• Japanese + Indian entities develop clean-technology projects.
• Project Idea Note (PIN) + Project Design Document (PDD) → project submission.
• Independent third party → validation + verification.
• Bilateral Joint Committee → approval + credit issuance.
• Credits allocated between India + Japan → used towards Nationally Determined Contribution (NDC) targets.

KEY FEATURES

• Corresponding adjustments → prevent double counting.
• Japanese finance → supports high-cost decarbonisation projects.
• Focus → India’s Long-Term Low-Emission Development Strategy (LT-LEDS).

KEY POINT

JCM → Japan’s technology + finance + India’s clean-energy projects → verified emission reductions + NDC benefits.