{"id":304991,"date":"2024-07-20T17:30:06","date_gmt":"2024-07-20T12:00:06","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=304991"},"modified":"2024-07-20T17:30:06","modified_gmt":"2024-07-20T12:00:06","slug":"joint-crediting-mechanism-jcm","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/joint-crediting-mechanism-jcm\/","title":{"rendered":"Joint Crediting Mechanism (JCM)"},"content":{"rendered":"<p style=\"text-align: justify;\">Source- This post on the <strong>Joint Crediting Mechanism (JCM)<\/strong> has been created based on the article <a href=\"https:\/\/epaper.thehindu.com\/ccidist-ws\/th\/th_international\/issues\/91575\/OPS\/GL9D20GFS.1+GF9D31A8D.1.html\" target=\"_blank\" rel=\"noopener\">&#8220;India plans to enter into carbon crediting mechanism with Japan&#8221;<\/a> published on \u201cThe Hindu\u201d on 20 July 2024.<\/p>\n<div class=\"content user-select-text\" style=\"text-align: justify;\" role=\"heading\" aria-label=\"Sent by Copilot: The **Global Conclave on Plastic Recycling and Sustainability (GCPRS)** is currently underway at the **Bharat Mandapam, Pragati Maidan** in Delhi. This four-day event brings together experts from India and abroad to address pressing concerns related to plastic waste management, recycling, and sustainability. The conference aims to promote circularity and discuss innovative solutions for a more sustainable future. Notable attendees include Secretary of the Union Ministry of Chemicals and Fertilizers, **Smt. Nivedita Shukla Verma**, and Joint Secretary of the Union Ministry of Micro, Small and Medium Enterprises, **Smt. Mercy Epao**[^1^] [^3^]. Topics covered include advances in biodegradable plastics, circular economy principles in waste management, and policy frameworks affecting plastics use and recycling[^2^]. Let me know if you need more information! \ud83d\ude0a\">\n<div class=\"ac-container ac-adaptiveCard has-image\">\n<div class=\"ac-textBlock\">\n<h2>Why in the news?<\/h2>\n<\/div>\n<\/div>\n<\/div>\n<p style=\"text-align: justify;\">India and Japan plan to establish a Joint Crediting Mechanism (JCM) for carbon trading and carbon credit adjustment.\u00a0The countries aim to sign a Memorandum of Cooperation to formalize the JCM.<\/p>\n<h2 style=\"text-align: justify;\">About Joint Crediting Mechanism (JCM) Mechanism<\/h2>\n<figure style=\"width: 409px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/smefutures.s3.ap-south-1.amazonaws.com\/wp-content\/uploads\/2023\/10\/04135725\/India-Japan-Fund-will-focus-on-investing-in-environmental-sustainability-and-low-carbon-emission-strategies-.jpg?resize=409%2C230&#038;ssl=1\" alt=\"\u00bb $600 mn India-Japan Fund will focus on environmental sustainability ...\" width=\"409\" height=\"230\" \/><figcaption class=\"wp-caption-text\">Source: smefutures.com<\/figcaption><\/figure>\n<p style=\"text-align: justify;\">1. The JCM will be formed under <span style=\"color: #ff0000;\">Article 6.2 of the Paris Agreement<\/span>. The implementation will adhere to the relevant domestic laws and regulations of both countries.<\/p>\n<p style=\"text-align: justify;\">2. The committee will <span style=\"color: #ff0000;\">develop rules and guidelines for the JCM<\/span>, covering project cycle procedures, methodologies, project design documents, monitoring, and third-party entity designation.<\/p>\n<p style=\"text-align: justify;\">3. The mechanism ensures mutual <span style=\"color: #ff0000;\">recognition of credits towards the NDCs of both countries<\/span>, avoiding double counting. Each government can authorize part of the JCM credits for international mitigation purposes.<\/p>\n<p style=\"text-align: justify;\">4. Carbon credits will be <span style=\"color: #ff0000;\">allocated through a structured process<\/span>, and a registry will track these credits.<\/p>\n<p style=\"text-align: justify;\">5. Credits will be allocated to the respective registries of India and Japan and used towards their NDCs to cut emissions and adapt to climate impacts.<\/p>\n<p style=\"text-align: justify;\">6. Japan will facilitate the transfer of technology, finance, and capacity building for new technologies under the JCM.<\/p>\n<h2 style=\"text-align: justify;\">Economic and Environmental Benefits<\/h2>\n<p style=\"text-align: justify;\">1.\u00a0 The mechanism is expected to boost job creation by attracting investments in low-carbon and clean technologies.<\/p>\n<p style=\"text-align: justify;\">2.\u00a0 The JCM will facilitate the diffusion of leading decarbonizing technologies, equipment, machinery, products, systems, and infrastructure.<\/p>\n<p style=\"text-align: justify;\"><strong>UPSC Syllabus: International Relations<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source- This post on the Joint Crediting Mechanism (JCM) has been created based on the article &#8220;India plans to enter into carbon crediting mechanism with Japan&#8221; published on \u201cThe Hindu\u201d on 20 July 2024. Why in the news? India and Japan plan to establish a Joint Crediting Mechanism (JCM) for carbon trading and carbon credit&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/joint-crediting-mechanism-jcm\/\">Continue reading <span class=\"screen-reader-text\">Joint Crediting Mechanism (JCM)<\/span><\/a><\/p>\n","protected":false},"author":10366,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,164],"tags":[11872,10498],"class_list":["post-304991","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-international-relations-daily-factly-articles","tag-9pm-daily-factly","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/304991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10366"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=304991"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/304991\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=304991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=304991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=304991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}