Note4Students
From UPSC perspective, the following things are important :
Prelims level: Paris Agreement
Mains level: Bilateral Ties between India and Japan related to climate change
Why in the news?
India is set to establish a Joint Crediting Mechanism (JCM) with Japan for carbon trading and emission-reduction credits.
Memorandum of Cooperation for Setting Up a Joint Crediting Mechanism (JCM)
- Objective and Framework: India and Japan plan to sign a Memorandum of Cooperation to establish a Joint Crediting Mechanism (JCM) for sharing emission-reduction credits. The JCM will involve a structured allocation of carbon credits and maintain a registry to track these credits, with projects needing clearance from a Joint Committee.
- Implementation and Oversight: The mechanism will be governed under Article 6.2 of the Paris Agreement, adhering to relevant domestic laws and regulations of both countries. A Joint Committee will develop rules, manage project cycles, and oversee monitoring and issuance of credits.
Emission Cuts
- Credit Allocation: Credits issued under the JCM will contribute to both Japan’s and India’s Nationally Determined Contributions (NDCs) under the Paris Agreement. The JCM will avoid double counting of credits and may authorize some credits for international mitigation purposes.
- Technology Transfer and Capacity Building: Japan will support technology transfer, finance, and capacity building to enhance the effectiveness of the JCM and facilitate the adoption of new technologies.
Significance of JCM:
- Increased Access to Clean Technologies: The JCM will facilitate the transfer of advanced decarbonizing technologies from Japan to India, such as renewable energy systems, energy-efficient appliances, and waste management solutions.
- Job Creation and Skill Development: The implementation of JCM projects will create new employment opportunities in sectors like renewable energy, energy efficiency, and waste management
Bilateral ties between India and Japan
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Way forward:
- Prioritize the adoption of cutting-edge decarbonizing technologies: Japan should prioritize the transfer of its most advanced low-carbon technologies to India, such as renewable energy systems, energy-efficient appliances, and carbon capture and storage solutions.
- Expand the scope of the JCM to include other areas of climate cooperation: While the initial focus of the JCM should be on emission reduction projects, India and Japan could explore expanding its scope to include other areas of climate cooperation, such as adaptation measures, climate finance, and capacity building.
Mains PYQ:
Q Clean energy is the order of the day.’ Describe briefly India’s changing policy towards climate change in various international fora in the context of geopolitics. (UPSC IAS/2022)
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