Context
India and Japan have launched the Operational Manual for the Joint Crediting Mechanism (JCM), providing a procedural framework for projects from initial proposal to issuance and authorisation of carbon credits. It operationalises bilateral cooperation under Article 6.2 of the Paris Agreement.
Explanation
- The JCM is a bilateral carbon-market mechanism through which Japan supports deployment of advanced low-carbon technologies and emission-reduction projects in partner countries.
- Projects can generate measurable emission reductions or removals, which may be converted into internationally recognised carbon credits.
- The mechanism seeks to mobilise climate finance, promote technology transfer and support sustainable development.
- Under Article 6.2 of the Paris Agreement, countries can voluntarily cooperate using Internationally Transferred Mitigation Outcomes (ITMOs).
- Such transfers require authorisation, transparency, robust accounting and avoidance of double counting.
- India and Japan signed a Memorandum of Cooperation in 2025 and adopted implementation rules in 2026.
- The Operational Manual now lays down the full project cycle, from Project Idea Note to credit issuance and authorisation.
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