New Delhi: The joint crediting mechanism (JCM) is a key tool for equitable and scalable global climate action, Union environment minister Bhupender Yadav said at CoP30 in Belém, Brazil, as he stressed that cooperative market mechanisms will play a decisive role as the world seeks climate solutions rooted in technology, equity and shared responsibility.
Speaking at the 11th JCM partner countries’ meeting on Wednesday, the minister said mechanisms such as the JCM present “a significant approach in strengthening efforts for climate action while supporting national priorities, particularly for developing countries”.
He noted that India and Japan share a “long-standing partnership rooted in trust, technology cooperation and shared commitment to sustainable development”, and described the arrangement as one that bridges national development priorities with collective global climate goals.
Referring to the India-Japan memorandum of cooperation signed on August 7 this year, the minister underlined that the JCM aligns with Article 6 of the Paris Agreement and “provides a clear framework for both governments and the private sector to jointly develop mitigation projects, mobilise finance, deploy advanced technologies and transparently allocate the resulting emission reductions”.
He emphasised that the mechanism will support the achievement of India’s nationally-determined contributions (NDC) and its long-term low emission development strategy, with low-carbon technologies approved by the national designated agency for implementation of Article 6 expected to play a strategic role in catalysing long-term climate goals.
The minister said the mechanism would facilitate investment, technology deployment and capacity-building for advanced low-carbon solutions while helping build a domestic ecosystem and localise high-technology interventions in line with India’s sustainable development priorities.
Yadav informed partner nations that work on India’s implementation framework is progressing well, adding that the rules of implementation and key activity-cycle documents are in advanced stages of finalisation. He also pointed out that the Bureau of Energy Efficiency is developing the Indian carbon market portal, which will include a dedicated module for JCM as well as other Article 6 cooperative approaches to ensure transparency, efficiency and ease of project facilitation.
Future pathways
Highlighting future pathways, he said JCM activities are expected to span sectors including renewable energy with storage, sustainable aviation fuel, compressed biogas, green hydrogen and green ammonia, along with best available technologies in hard-to-abate industries such as steel, cement and chemicals.
The session was chaired by Japan’s environment minister Hirotaka Ishihara and brought together ministers and representatives from JCM partner countries to review progress and strengthen bilateral climate cooperation. In his opening remarks, Ishihara announced that the JCM has now expanded to 31 partner countries, with more than 280 projects being implemented in accordance with Article 6 of the Paris Agreement.
He called for broadening global collaboration through frameworks that support long-term investments, enhance opportunities for participation of partner nations in resilience-focused projects and strengthen capacity-building initiatives.
Reaffirming India’s commitment to work closely with Japan and all JCM partner countries, Yadav said that the cooperation between the two nations demonstrates how high-integrity climate mechanisms can support investment, technology transfer and private sector engagement while strengthening implementation of the Paris Agreement.
Yadav called for collective action to ensure that the JCM evolves into “a model for transparent, impactful and equitable climate partnerships”.