METI: Japan and Republic of Uzbekistan Sign a Memorandum of Cooperation Establishing a Joint Crediting Mechanism (JCM)

On October 25, 2022, Japan and Republic of Uzbekistan agreed to establish the Joint Crediting Mechanism (JCM), and Mr. FUJIYAMA Yoshinori (Ambassador of Extraordinary and Plenipotentiary of Japan to the Republic of Uzbekistan) and Mr. Jamshid Khodjayev (Deputy Prime Minister of Investments and Foreign Trade) signed the Memorandum of Cooperation (MoC) on this agreement. Uzbekistan is now the 24th JCM partner country.
Moving forward, Japan and Uzbekistan will bolster their cooperation on the environment and energy through this JCM.

On October 25, 2022, Mr. FUJIYAMA Yoshinori, Ambassador of Extraordinary and Plenipotentiary of Japan to the Republic of Uzbekistan, and Mr. Jamshid Khodjayev, Deputy Prime Minister of Investments and Foreign Trade, signed the MoC to establish the JCM.

The JCM contributes to developing countries’ sustainable development through diffusion of leading decarbonization technologies and implementation of mitigation actions within them. They also appropriately evaluate contributions from Japan to greenhouse gas emission reductions or removals in a quantitative manner, and use them to achieve its NDC (nationally determined contribution). Japan is accelerating consultations with relevant countries, aiming to increase the JCM partner countries up to around 30 by 2025. Thanks to this MoC, there are now 24 JCM partner countries.*

*The prior 23 JCM partner countries: Mongolia, Bangladesh, Ethiopia, Kenya, Maldives, Vietnam, Laos, Indonesia, Costa Rica, Palau, Cambodia, Mexico, Saudi Arabia, Chile, Myanmar, Thailand, the Philippines, Senegal, Tunisia, Azerbaijan, Moldova, Georgia and Sri Lanka. Republic of Uzbekistan is the 24th.

Through this JCM with Uzbekistan, Japan will start projects to reduce greenhouse gas emissions within Uzbekistan and contribute to both countries achieving their NDCs. The JCM is implemented as a market mechanism—detailed in Article 6 of the Paris Agreement—and contributes to worldwide decarbonization efforts by encouraging countries around the world to reduce and remove greenhouse gas emissions and develop sustainably.