Page - (000141) - in Evaluating Climate Change Action for Sustainable Development

(PoA).22 The Joint Committee can also consider identifying projects that were planned for the CDM but never could start. In any case, project approval must always uphold additional aspects of projects support, promote new activity, andmore advanced technology than the prevailing technology in the country, and start after theearliestdatedecidedbyeachpartnercountry (most countriesdecided 1 January, 2013). The functions of the JCMwebsites (so far, Indonesia, Vietnam, andMongolia have established their own JCMwebsites in addition to the Japanese websites) shouldalsobeoptimizedtofacilitateprojectdevelopersshowcasingtheirneedsand availability, which can be followed up by the JCM secretariats and intermediary organizations. Transparency of informationmust always be ensured in communi- cating the JCMopportunities and approval process to eligible entities. These information are crucial for private companies, whom are naturally attracted to the offered JCMsubsidy of ‘up to the half of investment cost’, grant, and fullownershipof the technologies.Although thepriceofadvanced low-carbon technologies are generally higher than those available in the market, they are willing to invest because the subsidy helps pushing down payback period to a reasonableperiodof time.Theemphasisonuseofadvancedtechnologyshouldalso bepromoted.Current experience shows that theapproved technologieshavebetter efficiencyand/orperformance than thosecommonlyused inpartnercountries.Asa more specific criteria,MOEJ specifies cost effectiveness level andpaybackperiod as eligibility criteria for JCMModel Project support. The role of state actors such as local government and their contribution to national emissions reductions efforts should also be encouraged. As the JCMhas the additional value of realizing cost-intensive projects that may support local development plans, the globalmovement towards realizing sustainable cities and city-to-city cooperation programs can further encourage JCM projects. Schemes such as “sister city” andmunicipality international cooperation offices have been the playmakers for these cooperation. The City of Yokohama, for example, established a “Y-PORT” program in 2014, which aims to enhance collaboration between the government and private companies in the city to promote sustainable cities in other countries, utilizing, among others, the JCM.High social awareness and leadership on the environmental issues are helping to push these initiatives. 22Saito, Tetsuya. 2015. Opportunities and challenges under the JCM scheme. Presented at International Forum for Sustainable Asia and the Pacific (ISAP) 2015, Parallel Session “Show- casingSuccessful Partnerships forLowCarbonTechnologyTransfer”, Institute forGlobalEnvi- ronmental Strategies. 7 Enhancing the JointCreditingMechanismMRVtoContribute toSustainable. . . 123