The Joint Crediting Mechanism (JCM) in the Philippines
Background
The Memorandum of Cooperation (MoC) on Low Carbon Growth partnership was signed between the Republic of the Philippines and Japan on 12 January 2017 in Malacañan Palace, Manila. This bilateral agreement signaled the start of the country’s implementation of the Joint Crediting Mechanism (JCM) which would facilitate diffusion of leading low carbon technologies in the country as well as enhanced implementation of the mitigation actions.
The Joint Crediting Mechanism (JCM)
JCM is a system for cooperation between Japan and partner developing countries on reducing greenhouse gas emissions, in which the result of reduction is assessed as contribution by both partner countries.
The JCM has the following purposes:
☞ To facilitate diffusion of leading low carbon technologies, products, systems, services, and infrastructure as well as implementation of mitigation actions, and contributing to sustainable development of the Host Country (the Philippines).
☞ To appropriately evaluate contributions to GHG emission reductions or removals in a quantitative manner, through mitigation actions implemented in the Host Country and use those emission reductions or removals to achieve emission reduction targets of the countries involved.
☞ To contribute to the ultimate objective of the UNFCCC by facilitating global actions for emission reductions or removals.
Benefits to the host country
Participation in the JCM is voluntary and offers the following benefits:
- Access to investment in climate change mitigation projects.
- Transfer or diffusion of low carbon technologies.
- Support the sustainable development goals of the host country;
- Help achieve the National Determined Contribution (NDC) of the host country
Eligible projects under the JCM in the Philippines
Below are the priority projects in the Philippines:
- Energy industries (i.e. renewable or non-renewable resources, waste heat recovery)
- Energy Demand/Energy Efficiency (i.e. high efficiency technologies, chiller heat pumps, boilers, cold storage)
- Manufacturing industries (i.e innovative technologies, process efficiency)
- Solid waste handling and disposal
- Wastewater treatment
- Transport
- Forestry
Processes involved in the development of the JCM project
Phase 1: Securing Japanese partner and development and approval of the JCM Methodology
Phase 2: Development and registration of the JCM Project
Phase 3: Project implementation and monitoring of the JCM Project
Phase 4: Issuance and Allocation of credits
JCM Website
