Workshop on the Joint Crediting Mechanism (JCM) for project participants in Mongolia and Third Party Entity

The aim of the workshop was to provide information about potential Joint Crediting Mechanism (JCM) projects to the Mongolian government, and to build the capacity of the local Third Party Entity (TPE) and project participants in Mongolia under the JCM. The Mongolian Ministry of Environment and Tourism provided an update on the Nationally Determined Contribution (NDC), and its progress on increasing ambition. IGES explained the JCM program's contribution toward the Mongolian NDC and SDGs achievement by highlighting the linkages between JCM projects in Mongolia and the SDG targets. The Ministry of Energy of Mongolia presented the importance of potential JCM energy-efficiency projects in the power sector. In addition, the Ministry of Food, Agriculture, and Light Industry highlighted the current situation in the Mongolian livestock sector and discussed development of potential JCM projects to reduce its further GHG emissions. IGES also described cooperation by the Ministry of the Environment, Japan (MOEJ) and the World Bank Group (WBG) to scale up JCM projects in Mongolia.

In the afternoon of the workshop, the Global Environment Centre Foundation (GEC) introduced the JCM financing program for JCM model projects, and the Overseas Environmental Cooperation Center (OECC) explained the key points of JCM project development. IGES presented Measurement, Reporting and Verification (MRV) requirements for credits issuance under the JCM by 2030, and responsibility of local project participants in Mongolia. Local TPEs were informed of requirements for the verification process, and actively participated in discussion. Participants from the government agencies and private sector also engaged in enthusiastic conversations about a possible future JCM project in Mongolia, as well as opportunities for verification and validation under the JCM program.