This publication examines the alignment of the Joint Crediting Mechanism (JCM) with the requirements under Article 6.2 of the Paris Agreement on the framework, national, and project levels.
The JCM is a project-based offset crediting mechanism implemented between Japan and 17 partner countries. It is considered a forerunner for voluntary cooperation using market-based mechanisms under Article 6.2 of the Paris Agreement. This publication is intended to help climate policy makers better understand the opportunities, potential synergies, and remaining challenges associated with developing new market-based mechanisms under Article 6.2.