By Ifham Nizam

Japan and Sri Lanka took a significant step towards promoting sustainable development and fostering a low-carbon growth through a partnership at the Joint Crediting Mechanism (JCM) Study Session held in Colombo.

The seminar is an awareness session to make known of the potential Industries of the JCM scheme, the Procedure for implementing projects, Case studies of other countries, and an Introduction to representative Japanese companies involved in JCM projects by the Pacific Consultants Co. Ltd.

The event was co-organiSed by the Embassy of Japan with the Ministry of Environment in Sri Lanka and the Japan External Trade Organisation (JETRO) under the theme of enhancing awareness about the JCM initiative.

The JCM Study Session witnessed the participation of more than 70 individuals from over 30 companies including representatives from both Sri Lankan and Japanese entities. This event aims to elucidate the intricacies of the JCM, fostering greater understanding and engagement with this pivotal framework.

Katsuki Kotaro, Minister and Deputy Head of Mission at the Embassy of Japan, along with Dr. Anil Jasinghe, Secretary of the Ministry of Environment, commenced the event with their opening remarks that encapsulated the profound importance of the JCM initiative.

Dr. Jasinghe said that in terms of finding ways to solving this global issue, the United Nations Framework Convention on Climate Change (UNFCCC) and its Paris Agreement have been ratified by the parties with the objective of avoiding dangerous climate change by limiting global warming to well below 2°C and pursuing efforts to limit it to 1.5°C.

By implementing Nationally Determined Contributions (NDCs) which are introduced by the Paris Agreement the parties can achieve the Paris Temperature Goal.

Being party to the United Nations Framework Convention on Climate Change (UNFCCC) and its Paris Agreement, Sri Lanka has submitted its updated Nationally Determined Contributions (NDCs) to the UNFCCC 2021.

To achieve NDCs targets to support the global effort of the Paris temperature goal, UNFCCC has introduced the mechanisms under Article 6 of the Paris Agreement.

The Joint Crediting Mechanism (JCM) is the mechanism introduced by the Japanese in line with Article 6 of the Paris Agreement. With the Objectives of achieving Sri Lanka’s NDCs and contributing to the country’s Sustainable Development, Sri Lanka signed the agreement with Japan to implement the JCM in the country on 10th October, 2022.

Japan has signed bilateral agreements with 27 countries around the world. In terms of facilitating the JCM projects, the Ministry of Environment in Japan has announced the new proposals for JCM model projects for the years 2023-2024 through the Global Environment Centre Foundation. Under this proposal, JCM partner countries can submit the project proposals from 6th April 2023 to 30th November 2023 through the JCM Secretariat in collaboration with the Japanese counterpart.

Dr. Jasinghe said that JCM is a good opportunity for Sri Lankan Industries to implement JCM Projects in the energy, transport, industry, waste, and agriculture sectors by applying new low-carbon technologies with the support of the Japanese counterpart.