Expanding Energy and Environment Investments from Japan by signing the bilateral cooperation on Joint Credit Mechanism for reducing Greenhouse Gas Emissions
2022/10/10
On October 10th 2022, H.E. MIZUKOSHI Hideaki, Ambassador of Japan, signed an agreement with Dr. Anil Jasinghe, Secretary to the Ministry of Environment, at the Presidential Secretariat on Joint Credit Mechanism (JCM) for the low Carbon Growth Partnership between Japan and Sri Lanka in the presence of Hon. Naseer Ahamed, Minister of Environment. Under this framework, Japan will contribute to the sustainable development of Sri Lanka by reducing greenhouse gas emissions through investment and technical transfer of Japan's leading decarbonization technologies and infrastructure as well as promoting renewable energy.
Japan has been discussing with developing countries on JCM since 2011, and Sri Lanka became the 23rd partner country of Japan’s JCM partnership. Under this Partnership, the Government of Japan will be providing financial assistance as well as support in investments and technology transfer from Japanese companies to help the Government of Sri Lanka to achieve its sustainable economic growth and emission reduction targets toward carbon neutrality by the year 2050.
While we celebrate the 70th anniversary of the establishment of the diplomatic relationships between Japan and Sri Lanka this year, with effect of this partnership, Japan will be further contributing to Sri Lanka's sustainable economic growth through the assistance in the environment and energy sectors, while jointly combating climate change on a global scale.