Indonesia and Japan together against greenhouse emissionsStaff writer ▼ | Tuesday September 3, 2013 11:40AM ET
With signing of a bilateral agreement known as a joint crediting mechanism (JCM), the two countries have cut out intermediaries in greenhouse-friendly technology transfer, investment, and capacity building.
Under the Kyoto greenhouse protocol's Clean Development Mechanism, the United Nations must sign off on each Japanese company's participation, after a lengthy screening process. The new agreement will help Indonesia cash in more rapidly on Japanese companies' attempts to offset their own industrial carbon emissions by gaining credit for helping avoid emissions elsewhere in the world.
As part of the JCM agreement, the Japanese government has conducted feasibility studies in generating carbon emissions reductions in Indonesia through renewable energy, forestry, energy conservation, agriculture, transportation, carbon storage and waste treatment.
Indonesia has also set its own ambitious 2020 targets, of 26 percent emissions reduction under its own steam, and 41 percent reductions with international assistance through schemes such as this new deal. ■