IETA’s Bonzanni said Japan might demand more Article 6 credits than other country through 2030
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Webinar on India-Japan Joint Crediting Mechanism (JCM) Under Article 6 of the Paris Agreement
Transcript
https://otter.ai/u/7Mdfq4IX1b4XsihZbfcSCZDcsDY?view=summary
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The webinar discussed the India-Japan Joint Crediting Mechanism (JCM) under Article 6 of the Paris Agreement. Kajol Tandon highlighted the significance of the bilateral agreement for climate change mitigation. Andrea Bonzanni emphasized the role of private sector investments in JCM. Yoshiko Watanabe detailed the JCM’s structure, including its 31 partner countries and the potential for 200 million tons of mitigation outcomes by 2040. Norihiro Kimura outlined Japan’s green transformation policy and support mechanisms for JCM projects, including feasibility studies and financial assistance. The webinar underscored the potential for increased private sector involvement and project development in decarbonization efforts.
Action Items
- [ ] Discuss project candidates in India and provide support for feasibility studies.
- [ ] Organize an official JCM event by both the governments in a couple of weeks.
- [ ] Concentrate on the substance of business and investment for the JCM.
Outline
Introduction and Welcome by Kajol Tandon
- Kajol Tandon introduces the webinar, highlighting the significance of the first bilateral agreement between India and Japan on climate change mitigation.
- The webinar is organized in cooperation with the Ministry of Trade and Industry of Japan, the Ministry of Environment, Japan, and the Ministry of Environment, Forest and Climate Change of India.
- Kajol Tandon welcomes over 200 participants, including in-person attendees from the Mitsui office in Japan.
- Housekeeping rules are mentioned, including the structure of the session with presentations followed by a Q&A section.
Andrea Bonzanni’s Remarks on Article 6 of the Paris Agreement
- Andrea Bonzanni from IETA discusses the significance of Japan’s 31st agreement and its potential to accelerate climate action.
- Emphasizes the role of the private sector in participating in mechanisms like JCM for project development and trading of credits.
- Highlights the importance of achieving NDCs cooperatively and efficiently through Article 6.2.
- Andrea Bonzanni expresses optimism about the potential for deals and credit issuances following the agreement.
Yoshiko Watanabe’s Presentation on JCM Overview
- Yoshiko Watanabe from the Ministry of Environment, Japan, provides an overview of JCM, its structure, and its benefits.
- Explains the process of signing the Memorandum of Cooperation (MOC) and its publicity effects.
- Describes the role of JCM in incentivizing Japanese investment in decarbonization projects and the profitability of these projects.
- Details the emission structure and the sharing of mitigation outcomes between Japan and India.
Detailed Explanation of JCM Project Cycle and Eligibility Criteria
- Yoshiko Watanabe continues with a detailed explanation of the JCM project cycle, including project idea, methodology, monitoring, and issuance.
- Emphasizes the conservative calculation of credits and the corresponding adjustment to avoid double counting.
- Lists the 13 eligible activities for JCM projects in India, including renewable energy, energy efficiency, and green hydrogen.
- Highlights the launch of the JCM agency to handle all operations and crediting processes.
Norihiro Kimura’s Presentation on Supporting JCM Project Development
- Norihiro Kimura from the Ministry of Economy, Trade and Industry, Japan, discusses the ministry’s support for JCM project development.
- Outlines Japan’s new NDC target of reducing emissions by 60% by 2035 and 73% by 2040.
- Describes the green transformation policy with three principles: triple breakthrough, various pathways, and global decarbonization.
- Details the JX 24 vision, including the introduction of an emission trading scheme from 2026 and the use of JCM credits.
Supporting Tools and Examples of Feasibility Studies
- Norihiro Kimura explains the two policy tools to support JCM project development: feasibility studies and financial support for demonstration programs.
- Provides details on the scope of feasibility studies and the financial support available for demonstration projects.
- Lists examples of feasibility studies conducted in India, including green hydrogen, waste heat recovery, and biogas projects.
- Encourages companies to consult with the ministry for new JCM project ideas and provides contact information for further assistance.