Role of the JCM towards Sustainable Development and Achievement of Nationally Determined Contributions (NDC)
Organiser
- Institute for Global Environmental Strategies (IGES)
Event Overview
This event will discuss the role of market mechanisms, especially the JCM for achieving NDCs towards decarbonisation and sustainable development. JCM partner countries will share the current progress of the JCM implementation and expectations for the future. The event will also facilitate discussion between governments and international organizations on lessons learned and success stories from market mechanisms for development of a “Paris Rulebook”.
Speakers
- Maiko Uga, Section Chief, Office of Market Mechanism, Global Environment Bureau, Ministry of the Environment, Japan Presentation (PDF, 553KB)
- Kentaro Takahashi, Programme Manager, Climate and Energy Area, Institute for Global Environmental Strategies (IGES) Presentation (PDF, 801KB)
- Anand Tsog, Officer at Climate Change and International Cooperation Department, Ministry of Environment and Tourism Mongolia Presentation (PDF, 1.3MB)
- Dr. Paweena Panichayapichet, Manager, Review and Monitoring Office, Thailand Greenhouse Gas Management Organization (Public Organization) Presentation (PDF, 2.2MB)
- V.K. Duggal, Principal Climate Change Specialist (Future Carbon Fund), Sustainable Development and Climate Change Department, Asian Development Bank
- Lisa DeMarco, Senior Partner, DeMarco Allan LLP
- Daniel Besley, Senior Climate Change Specialist, Carbon Markets and Innovation, The World Bank Group
- Prof. Hironori Hamanaka, Special Research Advisor, Institute for Global Environmental Strategies (IGES)
Event Summary
In this side event, firstly Ms. Maiko Uga (Ministry of the Environment Japan) introduced the current progress of the Joint Crediting Mechanism (JCM). Secondly Mr. Kentaro Takahashi (IGES) presented that JCM met all requirements of Article 6 of Paris Agreement.Ms. Anad Tsog (Ministry of Environment and Tourism, Mongolia) reported that the JCM contributed not only GHG emission reductions but also sustainable development and achievement of renewable energy target. Dr. Paweena Panichayapichet (TGO, Thailand) presented that the JCM was well designed to secure the robust accounting and environmental integrity.
In the panel discussion, 4 carbon market experts (ADB, The World Bank Group, DeMarco Allan LLP and Ministry of the Environment Japan) were invited to discuss the lessons learned and trends on carbon market. All panelist confirmed that accounting guidance was very crucial to promote the investment from private sector in market mechanisms.
Message
- The JCM shows the leadership as a good example of cooperative approaches under Article 6 of Paris Agreement.
- It is necessary to adopt the guidance for robust accounting that is essential to attract private sector in market mechanisms.
- The market mechanisms including the JCM is required to scale up by co-financing with development banks and use of technology innovation.
- The governance of the JCM including decision making process can be referred for other countries.
