New Delhi, June 16 (HS): India and Japan have adopted the Rules of Implementation for the Joint Crediting Mechanism (JCM) under Article 6.2 of the Paris Agreement of the United Nations Framework Convention on Climate Change (UNFCCC).

The Ministry of Environment, Forest and Climate Change (MoEFCC) said on Tuesday that the Rules of Implementation were adopted on June 8.

India and Japan had signed a Memorandum of Cooperation on the Joint Crediting Mechanism last year to promote collaboration on projects aimed at reducing or removing greenhouse gas emissions while supporting sustainable development objectives.

According to the ministry, the implementation framework provides for governance arrangements, including a Joint Committee comprising representatives of both governments, project approval procedures, third-party validation and verification mechanisms, sustainable development safeguards and national registries for tracking the issuance and transfer of carbon credits.

The ministry said the mechanism reflects India's commitment to climate action and is expected to facilitate investment, technology transfer and capacity-building initiatives related to low-carbon technologies.

The Joint Crediting Mechanism is intended to support emission reduction efforts and contribute to the climate goals and Nationally Determined Contributions (NDCs) of both countries.

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Hindusthan Samachar / Indrani Sarkar