[Result] Webinar on the Joint Crediting Mechanism (JCM) Implementation in Republic of Maldives - Innovation for Carbon Neutrality through JCM -

Ministry of the Environment, Government of Japan (MOEJ) in collaboration with Ministry of Environment, Climate Change and Technology, Republic of Maldives jointly organized “Webinar on the Joint Crediting Mechanism (JCM)(*1) Implementation in Republic of Maldives - Innovation for Carbon Neutrality through JCM -” on Monday, February 28, 2022.

Government of Japan is promoting dissemination of advanced low-carbon or decarbonizing technologies through the Financing Programme for JCM Model Projects (*2). The webinar was participated by government officials and business leaders from both countries, and it aimed at sharing overview and progress of JCM and facilitating project development and scaling up those future projects.

This webinar introduced “Financing Programme for JCM Model Projects”, “Financing Programme to Demonstrate Decarbonization Technology for Realizing Co-Innovation”(*3), “Pilot Project for Comprehensive Support throughout the Whole Hydrogen Supply Chain Abroad”(*4) started this fiscal year and Japan Fund for JCM (JFJCM)(*5) as well as good examples of each project. From Maldives side, government strategies in climate change, situation in tourism and renewable strategies in electricity was explained.

From the results of the questionnaire, while many respondents were generally satisfied with the content of the webinar, there were comments that further explanation of options for private sector to participate in JCM is requested. Organizer will consider these comments for future improvement. Please refer to the movie below for questions and answers with participants.

Overview of Webinar

Date：Monday, February 28, 2022, 10:00-12:00 (Maldives time) (UTC+5)
Venue：Webinar via Zoom. Prior registration is required.
Organizers：Ministry of Environment, Climate Change and Technology, Republic of Maldives, Ministry of the Environment, Government of Japan
Secretariat：Pacific Consultants Co., Ltd.
Language：English

Program

　　 　　 　　 　　

10:00-10:10	Opening Remarks Ms. Midori Takeuchi, Ambassador, Embassy of Japan in the Republic of Maldives
Session 1. State of Climate Change in Maldives and opportunities for the JCM
10:10-10:20	Climate Change Policy and Focusing Renewable Technologies Mr. Mauman Abdul Rasheed, Assistant Director, Climate Change Department, Ministry of Environment, Climate Change and Technology, Maldives
10:20-10:30	Recent Development of the JCM Mr. Masaki Nakayama, Researcher, Ministry of the Environment, Government of Japan
10:30-10:45	Financing Programme for JCM Model Projects and JCM Global Match Mr. Satoru Tango, Senior Manager, Financing Programme Group, Tokyo Office, Global Environment Centre Foundation (GEC)
10:45-10:55	Recent development of Japan Fund for the JCM (JFJCM) Mr. Shintaro Fujii, Environment and Climate Change Specialist, Climate Change and Disaster Risk Management Division, Sustainable Development and Climate Change Department, Asian Development Bank (ADB)
Session 2. Renewable energy opportunities in Maldives
10:55-11:05	Recent Situation of Tourism in Maldives Ms. Malaka Abdul Hameed, Director, Security and Crisis Management, Ministry of Tourism Maldives
11:05-11:15	Strategies for Electricity in Maldives (Greater Male) Ms. Mariyam Mooha Midhath, Assistant Engineer, Projects Planning & Development Department, State Electric Company Limited
11:15-11:25	Strategies for Electricity in Maldives (Remote islands) Ms. Mariyam Layal Shakir, Engineer, Technical Service & Green Energy Department, FENAKA Corporation Limited
11:25-11:35	Male-Toyama City-to-City Collaboration for Low-Carbon Society Mr. Shoji Kobayashi, Project Director, Environmental Policy Division, Environmental Department, Toyama City, Japan Mr. Hidenori Ishiguro, Consultant, Environment Consulting Department, International Business Unit, Japan NUS Co., Ltd.
11:35-11:45	Q&A
11:45-11:50	Closing address Mr. Ahemed Waheed, Director, Climate Change Department, Ministry of Environment, Climate Change and Technology, Maldives

Introduction of “JCM Global Match”
JCM also provides an online business matching platform “JCM Global Match”. Companies offering low-carbon and decarbonizing technologies (sellers), companies in JCM partner countries implementing such technologies (buyers), consulting firms with knowledges about JCM projects and financial institutions are encouraged to register and find potential business partners through JCM Global Match.

*1　JCM stands for the Joint Crediting Mechanism, and it is a bilateral cooperation mechanism that developing countries and Japan collaborate on GHG emission reductions projects and share the reduction result. For further information, please refer to the official website of JCM

*2　In order to support the implementation of candidate JCM projects, Ministry of the Environment, Japan has launched the “JCM Model Projects”. The purpose of this model project is to financially support the implementation of projects which reduce GHG emissions by utilizing leading decarbonizing technologies in developing countries, and in return seeks to acquire JCM credits for achievement of Japan’s GHG emission reduction target.

*3　“Financing Programme to Demonstrate Decarbonization Technology for Realizing Co-Innovation” aims to create innovation beneficial for both Japan and developing countries through collaboration (co-innovation). The purpose of this financing program is creating a zero-carbon society through renovation and dissemination of high quality decarbonizing technologies and products, which are some of Japan’s strength, by means of systemization and packaging of multiple technologies, and by encouraging uptake of such technologies, in addition to bringing benefits to the technology developers in Japan as a result.

　*4　“Pilot Project for Comprehensive Support throughout the Whole Hydrogen Supply Chain Abroad” will subsidize a part of the demonstration project to produce hydrogen derived from renewable energy in third party countries where renewable energy is abundant such as solar power generation and wind power generation and to transport and utilize in partner countries (such as Pacific Island countries).

*5 JFJCM stands for Japan Fund for Joint Crediting Mechanism, and it provides the financial incentives for the adoption of advanced low-carbon technologies which are superior in GHG emission reduction but expensive in Asian Development Bank-financed projects.