Workshop on Joint Crediting Mechanism (JCM) began this morning at Hotel Jen. This workshop is organized by Asian Development Bank (ADB) in cooperation with the Ministry. It is a capacity building event promoting Bilateral Mechanisms in Asia and the Pacific. This two day workshop was inaugurated by Minister of State for Environment and Energy, Mr. Abdullahi Majeed. JCM is a bilateral carbon market mechanism between the Government of Japan and developing countries such as Maldives to promote greenhouse gas (GHG) emission reduction projects. jCM is designed to provide financial incentive for the implementation of advanced low carbon technologies. A JCM project is implemented in the host country using an advanced low-carbon technology to reduce GHG emissions.
So far, 16 countries including 10 in Asia and the Pacific region have launched the JCM. Maldives signed the bilateral document with Japan and became a JCM partner country in June 2013. As of 30 August 2016, 15 projects hosted in Asia and the Pacific have been registered as JCM projects.
This JCM workshop is the first in Maldives but eighth in the series of capacity development workshops. This workshop aims to enhanceawareness about the recent development on the JCM through several technical sessions and case studies of JCM projects using different types of advanced low carbon technologies, as well as a one-to-one consultation with the expert pan