Abstract
The joint crediting mechanism (JCM) is a Japan-initiated bilateral mechanism for reducing greenhouse gas (GHG) emissions while transferring Japan’s technologies to partner countries in exchange for transferring carbon credits to Japan. It is seen as a leading pilot mechanism of “cooperative approaches” under Article 6.2 of the Paris Agreement. As of February 2022, 214 projects with 22 partner countries, including Saudi Arabia, had been selected by the Japanese government for support. Japan and Saudi Arabia have thus far implemented one project under this mechanism, and another project is in the process of being approved.
