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Japan, India to use joint crediting mechanism in emissions-reduction plan
Japan and India plan to implement a joint crediting mechanism for emissions reduction, leveraging Japanese technologies to help India cut greenhouse gas emissions. This initiative will be announced during Prime Minister Modi's visit to Japan and aims to bolster Japan's investments in India's clean energy sector while allowing Japan to account for these reductions.
Key points
- Japan and India are set to use a joint crediting mechanism for emissions reduction.
- The plan will be announced during Prime Minister Narendra Modi's upcoming visit to Japan.
- The mechanism, established in 2013, marks India as Japan's 31st partner.
- India, the third-largest CO2 emitter, will access Japanese decarbonization technologies at low cost.
- Japan can include emissions reductions from its technologies in their own targets.
- Projects under this framework may receive financial support from the Japanese government, promoting investment in India's clean energy sector.
Why it matters
- The joint crediting mechanism reflects ongoing global initiatives to tackle climate change and promote sustainable energy.
- In 2025, emissions reduction and carbon accounting is expected to be central in international climate negotiations.
- This partnership aligns with the increasing trend of bilateral cooperation in sustainable technologies among nations.
The joint crediting mechanism between Japan and India represents a significant step toward collaborative efforts in reducing emissions and enhancing clean technology investments, pivotal in the global fight against climate change.