On August 31, 2018, I met with Tomoya MOTODA and Hiroyuki SAITO of the Global Environment Center Foundation (GECF), Climate Change Division, in Osaka.
The object of my meeting was to discuss the financial mechanism established by the GECF : the Joint Credit Mechanism ("JCM"). In brief, the JCM is a system to finance, up to 50 %, the total cost of transferring low carbon technologies originating from Japan to developing countries in order to reduce greenhouse gas emissions ("GHGs"). Its 2018 budget is Japanese Yen 6.9 billion (approximately USD 69 million).
Under the JCM, Japan is able evaluate its contributions to GHG emission reductions or removals in a quantitative manner and use them to achieve Japan’s emission reduction target. JCM partnership document is signed by 17 countries including those in Asia, Africa, Small Island Developing States(SIDSs), Latin America and the Middle East. That list may increase.
Since its establishment in 2013, the JCM has approved over 100 technology transfer projects in various sectors covering renewable energy, energy efficiency, REDD+. Japanese companies participating to this program include Asahi Glass (AGC), Toray, Aeon, Lawson, Toyota, Denso, Toyota, JFE etc.
Following my meeting, Rouse was invited to participate to the upcoming JCM business matching meeting in Bangkok on September 11, 2018 during which Japanese and Thai companies will meet to introduce low carbon technologies and opportunities for their transfer to Thailand. NTT, Fuji, CP Group, Siam Cement Group, Kasikorn Bank will participate to that meeting.
for more details on JCM : https://www.jcm.go.jp/