Page - (000133) - in Evaluating Climate Change Action for Sustainable Development

The role of the JCM in supporting the Japanese government emissions reduc- tions targetpost-2020shows the levelof its ambition.6Moreover,mostof the JCM partnercountriesalso implies their intention to report the reductionsachieved from market-based mechanisms projects to fulfil their intended nationally determined mitigation contributions.7 Therefore, the JCM needs a robust MRV system and policy arrangements to ensure the scheme’s emissions reductions achievement fulfils the expectations,while contributing to sustainable development in the part- ner countries, as it aims todo. 7.3 Approach inEvaluating theJCMMRV Asoneof thevariousapproachesdevelopedbasedonCOPDecision1/CP.18,8The overarching goal of the JCMMRV is to deliver real, permanent, additional and verified mitigation outcomes, avoid double counting of effort and achieve a net decreaseand/oravoidanceofGHGemissions.9Under theParisAgreement, theuse ofmarketmechanisms is articulated inArticle 6,which covers voluntary cooper- ative approaches resulting in internationally transferredmitigation outcomes that may be used towards nationally determined contribution. These cooperative approachesshouldpromotesustainabledevelopmentwhileupholding transparency and environmental integrity and avoiding double counting of outcomes. The JCM creditsmaybe considered as these outcomes. This chapter explores the early implementation of the JCMtofind the possible answers to three questions: 1. What are the key enhancements needed for the JCMMRV to ensure real, permanent, additional and verifiedmitigation outcomes, avoid double counting of effort and achieve anet decrease and/or avoidance ofGHGemissions? 2. What are thekeychallenges in the initial stageof the JCMandhowcan theybe improved? 3. Howcanproject contribution to sustainabledevelopmentbeproperly evaluated through the JCMMRV? Specificsourcesare referred to in this chapter.Assessmentweremainlydone to the publicly available information of official documents, publicly available 6In Japan’s INDCs, the JCM is not included as a basis of the bottom-up calculation of Japan’s emission reduction target, but theamountof emission reductionsand removals acquiredbyJapan under the JCM will be appropriately counted as Japan’s reduction. Apart from contributions achieved throughprivate-sector based projects, accumulated emission reductions or removals by FY2030 throughgovernmental JCMprograms to beundertakenwithin thegovernment’s annual budget are estimated tobe ranging from50 to100million t-CO2. 7IETAINDCTracker (2015), IGES INDCsAndMarketMechanismDatabase (2016). 8RecentDevelopment ofThe JointCreditingMechanism (JCM),November 2015. 9FCCC/CP/2011/9/Add.1Decision2/CP.17, para 79. 7 Enhancing the JointCreditingMechanismMRVtoContribute toSustainable. . . 115