Climate and Energy
UNFCCC SB44 Side Event:
The Joint Crediting Mechanism (JCM): Achievements and current progress of projects implementation
The Institute for Global Environmental Strategies (IGES) held a side event for the 44th Subsidiary Body sessions of the United Nations Framework Convention on Climate Change (UNFCCC SB44) entitled " The Joint Crediting Mechanism (JCM): Achievements and current progress of project implementations " on 18 May 2016 in Bonn, Germany.
This side event, co-organised with the Ministry of the Environment, Japan (MOEJ), the Overseas Environmental Cooperation Center, Japan (OECC), presented recent progress, achievements and expectations on the implementation of the JCM in the context of Article 6 of the Paris Agreement. The side event consisted of two parts: (1) presentations on updates on UNFCCC discussion on market mechanisms, progress in the JCM, and JCM methodology development for facilitating JCM implementation; and (2) panel discussions with participation of representatives from JCM partner countries, namely Thailand, the Philippines and Viet Nam. The side event also received active participation and feedback from participants on issues, including the role of the JCM as an active market-based mechanism in international negotiation and accounting.
|Date / Time||18 May 2016, 13:15-14:45|
|Venue||Lounge, Art- and Exhibition Hall, Kunst- und Ausstellungshalle in Bonn, Germany|
|Organisers||Ministry of the Environment, Japan (MOEJ),
Overseas Environmental Cooperation Center, Japan (OECC),
Institute for Global Environmental Strategies (IGES)
Mr. Makoto Kato (OECC), moderator for the side event, mentioned the objective of this side event was to enhance understanding of the fast progress made by the JCM in realising GHG emissions reductions and to consider a way forward.
Mr. Niclas Svenningsen (UNFCCC Secretariat) presented updates on UNFCCC discussions related to market-based mechanisms. He mentioned that discussion has just begun on the details of Cooperative Approaches, where the JCM can be seen as an example. Article 6 of the Paris Agreement clearly mentioned that Cooperative Approaches are important to achieve higher ambitions of countries to reduce GHG emissions and that it is essential to avoid double counting.
Mr. Naoki Torii (MOEJ) presented details of how the JCM as a scheme has made progress with support of 16 JCM partner countries located not only in Asia but also in other regions. He announced JCM credits were issued for the first time in the implementation of the JCM in May 2016. He mentioned this credit issuance was great achievement for the JCM, because now the project cycle of the mechanism has been completed. He also highlighted the clear intention of the government of Japan to continuing the JCM as a way to achieve emissions reductions not only up to 2020 but also after 2020, which will be based on consultation between two countries.
Dr. Chisa Umemiya (IGES) talked about JCM methodology development for facilitating the implementation of the JCM. She stressed the key concept of JCM methodologies is to achieve net emissions reductions by applying eligibility criteria, setting reference emissions, and using a simplified monitoring method. With a number of approved methodologies, experiences can be shared further among partner countries as well as project participants.
During the panel discussion, Mr. Pham Van Tan (Ministry of Natural Resources and Environment, Vietnam) mentioned how important it has been that partner countries and project participants can learn from each other with the JCM implementation. He also said that the JCM may be crucial for the achievement of its conditional NDCs. Dr. Thanasit Thamsiriroj (Thailand Greenhouse Gas Management Organization) shared that it is not only the financial support that Thailand has been benefiting from the JCM. Private companies have gained learning experiences by participating in the JCM. Mr. Albert Magalang (Environmental Management Bureau, the Philippines) mentioned the JCM is a good example of a bilateral mechanism that can help facilitate international negotiation on Article 6.