Japan to join Ukraine’s green recovery – Ministry of Natural Resources

The Cabinet of Ministers of Ukraine approved the document on the establishment of the Ukrainian part of the Ukrainian-Japanese joint committee for the implementation of the joint crediting mechanism, the Ministry of Environmental Protection and Natural Resources of Ukraine reported.

Earlier, Ukraine joined the Japan Joint Crediting Mechanism (JCM). The goal of the program is to achieve a reduction in greenhouse gas emissions by introducing leading global technologies for decarbonization of various sectors of the economy through investments by Japanese organizations. Ukraine and Japan signed the corresponding memorandum of cooperation under Article 6 of the Paris Agreement earlier this year.

"This decision is important for achieving our climate goals through joint crediting instruments. Japan is a promising partner on this path. With the help of joint crediting, we will be able to attract Japanese technologies and innovative developments to reduce greenhouse gas emissions. This includes the implementation of the UN Framework Convention on Climate Change and the Paris Agreement, as well as the green recovery of Ukraine according to the latest practices," Minister Svitlana Hrynchuk was quoted as saying in a message on the Telegram channel on Tuesday.

It is noted that the next step will be the approval of the composition of this committee and its regulations. The committee is being created to coordinate efforts aimed at strengthening bilateral cooperation in the fight against climate change. For its part, Japan has already completed all the preparatory steps to launch cooperation.

The JCM is reported to allow Japanese organizations to invest in decarbonization projects in partner countries. The reduced greenhouse gas emissions resulting from such projects are counted partly as Japan's contribution to achieving its own emission reduction targets, and partly in the country where the project was implemented.

To date, the JCM mechanism operates in 29 countries around the world. According to Hrynchuk, for Ukraine this means access to Japanese technologies – some of the best in the world – and guaranteed investments for a green recovery. This will be tangible support in overcoming the consequences of Russian armed aggression.