The role of the JCM in supporting the Japanese government emissions reductions target post-2020 shows the level of its ambition.
6 Moreover, most of the JCM
partner countries also implies their intention to report the reductions achieved from
market-based mechanisms projects to fulfil their intended nationally determined
mitigation contributions.
7 Therefore, the JCM needs a robust MRV system and
policy arrangements to ensure the scheme’s emissions reductions achievement
fulfils the expectations, while contributing to sustainable development in the partner countries, as it aims to do.
7.3 Approach in Evaluating the JCM MRV
As one of the various approaches developed based on COP Decision 1/CP.18,
8 The
overarching goal of the JCM MRV is to deliver real, permanent, additional and
verified mitigation outcomes, avoid double counting of effort and achieve a net
decrease and/or avoidance of GHG emissions.
9 Under the Paris Agreement, the use
of market mechanisms is articulated in Article 6, which covers voluntary cooperative approaches resulting in internationally transferred mitigation outcomes that
may be used towards nationally determined contribution. These cooperative
approaches should promote sustainable development while upholding transparency
and environmental integrity and avoiding double counting of outcomes. The JCM
credits may be considered as these outcomes.
This chapter explores the early implementation of the JCM to find the possible
answers to three questions:
1. What are the key enhancements needed for the JCM MRV to ensure real,
permanent, additional and verified mitigation outcomes, avoid double counting
of effort and achieve a net decrease and/or avoidance of GHG emissions?
2. What are the key challenges in the initial stage of the JCM and how can they be
improved?
3. How can project contribution to sustainable development be properly evaluated
through the JCM MRV?
Specific sources are referred to in this chapter. Assessment were mainly done to
the publicly available information of official documents, publicly available
6 In Japan’s INDCs, the JCM is not included as a basis of the bottom-up calculation of Japan’s
emission reduction target, but the amount of emission reductions and removals acquired by Japan
under the JCM will be appropriately counted as Japan’s reduction. Apart from contributions
achieved through private-sector based projects, accumulated emission reductions or removals by
FY 2030 through governmental JCM programs to be undertaken within the government’s annual
budget are estimated to be ranging from 50 to 100 million t-CO 2 .
7 IETA INDC Tracker (2015), IGES INDCs And Market Mechanism Database (2016).
8 Recent Development of The Joint Crediting Mechanism (JCM), November 2015.
9 FCCC/CP/2011/9/Add.1 Decision 2/CP.17, para 79.
7 Enhancing the Joint Crediting Mechanism MRV to Contribute to Sustainable. . .
115
6 Moreover, most of the JCM
partner countries also implies their intention to report the reductions achieved from
market-based mechanisms projects to fulfil their intended nationally determined
mitigation contributions.
7 Therefore, the JCM needs a robust MRV system and
policy arrangements to ensure the scheme’s emissions reductions achievement
fulfils the expectations, while contributing to sustainable development in the partner countries, as it aims to do.
7.3 Approach in Evaluating the JCM MRV
As one of the various approaches developed based on COP Decision 1/CP.18,
8 The
overarching goal of the JCM MRV is to deliver real, permanent, additional and
verified mitigation outcomes, avoid double counting of effort and achieve a net
decrease and/or avoidance of GHG emissions.
9 Under the Paris Agreement, the use
of market mechanisms is articulated in Article 6, which covers voluntary cooperative approaches resulting in internationally transferred mitigation outcomes that
may be used towards nationally determined contribution. These cooperative
approaches should promote sustainable development while upholding transparency
and environmental integrity and avoiding double counting of outcomes. The JCM
credits may be considered as these outcomes.
This chapter explores the early implementation of the JCM to find the possible
answers to three questions:
1. What are the key enhancements needed for the JCM MRV to ensure real,
permanent, additional and verified mitigation outcomes, avoid double counting
of effort and achieve a net decrease and/or avoidance of GHG emissions?
2. What are the key challenges in the initial stage of the JCM and how can they be
improved?
3. How can project contribution to sustainable development be properly evaluated
through the JCM MRV?
Specific sources are referred to in this chapter. Assessment were mainly done to
the publicly available information of official documents, publicly available
6 In Japan’s INDCs, the JCM is not included as a basis of the bottom-up calculation of Japan’s
emission reduction target, but the amount of emission reductions and removals acquired by Japan
under the JCM will be appropriately counted as Japan’s reduction. Apart from contributions
achieved through private-sector based projects, accumulated emission reductions or removals by
FY 2030 through governmental JCM programs to be undertaken within the government’s annual
budget are estimated to be ranging from 50 to 100 million t-CO 2 .
7 IETA INDC Tracker (2015), IGES INDCs And Market Mechanism Database (2016).
8 Recent Development of The Joint Crediting Mechanism (JCM), November 2015.
9 FCCC/CP/2011/9/Add.1 Decision 2/CP.17, para 79.
7 Enhancing the Joint Crediting Mechanism MRV to Contribute to Sustainable. . .
115