India and Japan sign MoC to boost low-carbon technology cooperation under Paris Agreement

India and Japan have signed a Memorandum of Cooperation (MoC) on Joint Crediting Mechanism (JCM) under Article 6.2 of the Paris Agreement on Climate Change. The MoC aims to build capacity for projects involving low-carbon technologies and strengthen the partnership between the two countries on climate change mitigation.

The Union Environment Ministry announced that the MoC, signed earlier this month, is part of a key area of Indo-Japan cooperation, “Green Energy Focus for a Better Future”, highlighted by Prime Minister Narendra Modi during his ongoing visit to Japan.

JCM will facilitate the flow of investment, technology assistance, and capacity-building support for implementing projects involving low-carbon technologies. These technologies, approved by National Designated Agency for Implementation of Article 6 of the Paris Agreement (NDAIAPA), are crucial to India’s long-term low-carbon development strategy to achieve net-zero emissions by 2070.

The MoC will encourage domestic ecosystems and partnerships to localise low-carbon technologies, paving the way for their large-scale deployment. It will also facilitate the implementation of projects contributing to greenhouse gas reduction or removal and sustainable development in India. Furthermore, the MoC will enable the international trading of carbon credits generated from such projects under Article 6.2 of the Paris Agreement with Japan and other countries, without adversely impacting India’s Nationally Determined Contribution (NDC) commitments.