Viet Nam and Japan approve Implementation Rules for JCM

On October 16, the Viet Nam - Japan Joint Committee for the Joint Crediting Mechanism (JCM) held its 10th meeting.

The meeting marked a significant milestone as both sides officially adopted the JCM Implementation Rules, establishing a transparent legal and technical framework for greenhouse gas emission reduction projects in the two countries in the next phase.

The meeting was co-chaired by Le Trong Yen, Viet Nam's Deputy Minister of Agriculture and Environment, and Ishikawa Isamu, Deputy Ambassador and Minister of Japan to Viet Nam. Members of the Joint Committee from both countries attended the meeting.

Positive cooperation results after more than a decade

Viet Nam and Japan signed an amended Memorandum of Cooperation on Low-Carbon Growth during Japanese Prime Minister Takaichi Sanae's high-level visit to Viet Nam in May 2026. The signing marked an important step in strengthening the JCM cooperation framework in line with the Paris Agreement guidelines and the two countries' updated legal regulations.

Against this backdrop, the 10th meeting of the JCM Joint Committee aimed to translate the provisions of the amended Memorandum of Cooperation on Low-Carbon Growth into concrete measures and discuss implementation plans for the coming period.

According to Deputy Minister Le Trong Yen, cooperation between Viet Nam and Japan in environmental protection, climate change response, and green transition has become increasingly important in recent years.

In particular, the two countries established the JCM to provide a framework for implementing greenhouse gas emission reduction projects through financial support, investment, and low-carbon technology transfer. Carbon credits generated by these projects are shared among participating parties, contributing to both countries' greenhouse gas emission reduction targets.

Since its establishment in 2013, the JCM has registered 14 projects and issued more than 35,000 carbon credits.

"These positive results demonstrate effective cooperation among government agencies, organizations, and businesses from both countries, while highlighting the potential to further expand JCM activities in the coming years," Deputy Minister Le Trong Yen affirmed.

Representing Japan, Deputy Ambassador and Minister Ishikawa Isamu expressed his satisfaction with the continued growth of JCM cooperation. He emphasized that establishing transparent JCM Implementation Rules would encourage investors to take stronger action to reduce greenhouse gas emissions.

Emission reductions under Article 6 of the Paris Agreement

At the meeting, members of the Viet Nam - Japan JCM Joint Committee officially adopted the JCM Implementation Rules. The Ministry of Agriculture and Environment led the drafting process, working closely with the Japanese side to review the document and incorporate feedback from relevant ministries and agencies.

The JCM Implementation Rules set out specific procedures for implementing JCM projects, including the development and approval of project proposals, review and approval of project registration, and issuance and allocation of carbon credits among participating parties.

The adoption of these rules provides a foundation for implementing JCM projects in the coming years. Project implementation, carbon credit issuance, and transfers must comply with the laws and regulations of both countries.

On the Vietnamese side, these activities will follow Government Decree No. 112/2026/ND-CP, dated April 1, 2026, on the international exchange of greenhouse gas emission reduction outcomes and carbon credits.

To translate commitments into concrete action, both sides discussed future cooperation plans. The Joint Committee will review several project proposals and applicable carbon crediting methodologies.

At the meeting, Nguyen Tuan Quang, Director General of the Department of Climate Change, called on the focal agencies and secretariats of both countries to maintain close coordination, promptly finalize the JCM Implementation Manual, and review detailed templates to provide businesses with clear guidance on participating in the mechanism's new phase.

These efforts aim to accelerate JCM project implementation, strengthen support for participating businesses, ensure effective emission reductions, and maintain alignment with the Paris Agreement guidelines.

The meeting's success went beyond completing its agenda, laying a solid foundation for more substantive, transparent, and effective JCM cooperation under Article 6 of the Paris Agreement. It also contributes to deepening the Viet Nam-Japan Comprehensive Strategic Partnership in addressing climate change.

Specific outcomes of JCM cooperation will be shared at the 9th Viet Nam-Japan Ministerial Dialogue on Environmental Policy, scheduled for early November 2026.

Khanh Ly