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  • Supported greenhouse gas reduction and social infrastructure system export by utilizing JCM

Supported greenhouse gas reduction and social infrastructure system export by utilizing JCM

Supported greenhouse gas reduction and social infrastructure system export by utilizing JCM
Project Summary

Made a suggestion to Japanese Ministry of Environment for JCM deployment to island countries. Provided support for deal seed discovery, deal creation, and showcasing in the Republic of Maldives.

Promote Joint Crediting Mechanism (JCM) towards achieving Paris agreement Japan
In December 2015 at COP 21, an international framework, Paris Agreement, was agreed by all 196 Framework Convention on Climate Change participating countries. This was then ratified in November 2016. The Japanese government was promoting further utilization of bilateral offset credits, so-called Joint Crediting Mechanism (JCM), to achieve the goal from this historical framework.

The development of JCM and the benefits of “killing 4 birds with one stone” in the island country
In 2013, 3 years prior to the Paris Agreement, we made a proposal to the Ministry of the Environment. We suggested that by setting “island countries” as our destination to utilize JCM, below 4 benefits would be brought about:
Japanese economy growth through export of social infrastructure,
Environmental contribution by gaining emission credits,
Positive impacts on Japanese diplomacy by earning trust and gaining pro-Japan from the island countries,
Increased national security, therewith bring achievements in national defense.

Supported its horizontal deployment by assisting deal creation in the Republic of Maldives and its showcase
We also assisted in making deals with the island country, Republic of Maldives, where we already had concluded JCM agreement with. Republic of Maldives heavily relied on diesel engines for their power. Because of its lack of domestic energy resources, the Maldives Republic depends on imported crude oil from overseas. Their crude oil purchasing volume was small relative to the size of the country, and therefore energy cost was very high, resulting in the weak energy security status. We did a deal seed discovery via feasibility study for renewable energy microgrid packaged export, which was a combination of solar panels and storage batteries, designed for remote islands. Also, taking advantages of the Republic of Maldives being established as tourism nation, we made a showcase of this project, and lead to a horizontal deployment to other island countries and off-grid nations.

Joint Crediting Mechanism:
In this scheme, Japan provide our advanced environment / energy technologies, experiences and knowledge to developing countries to balance greenhouse gas reduction and economic development, and to count as part of Japan’s emissions reduction.

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