The Minister of the Environment of Japan Nobuteru Ishihara and
"The establishment of the JFJCM is a timely step to help meet the demands of the
Due to rapid economic growth, the region has become a major source of greenhouse gas (GHG) emissions, with the region's carbon dioxide (CO2) emissions accounting for 43% of the world's CO2 emissions in 2010. This share could rise to 50% of world CO2 emissions by 2035. The region's developing countries need considerable investments to make the transition to a low-carbon development path.
Many advanced low-carbon technologies face significant barriers to adoption such as high up-front costs and perceived risk that the technology will not perform to expectations. The JFJCM will offer up-front grant financing and technical assistance to address these barriers.
With the establishment of the JFJCM,
The JCM is a bilateral carbon market mechanism between the Government of
The eligible countries of the JFJCM are DMCs of
The JFJCM will help finance the adoption of advanced low-carbon technologies that are proven but not yet widely used in developing countries, including smart grids, waste-to-energy schemes, and energy efficiency measures in facilities such as water supply and sanitation plants, transport systems, and buildings.
Under the Letter of Intent,
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