Hanoi (VNA) – Vietnam and Japan signed a Memorandum of Understanding (MoU) on Joint Credit Mechanism - JCM at a ceremony held in both virtual and in-person forms on October 14.
Minister of Natural Resources and Environment Tran Hong Ha and Japanese Ambassador to Vietnam Yamada Takio represented the two Governments to sign the MoU, while Japanese Environment Minister Yamaguchi Tsuyoshi Michael and Vietnamese Ambassador to Japan Vu Hong Nam witnessed the signing and exchange of the MoU from Tokyo.
JCM is a mechanism that Japan proposes to promote the transfer and application of low-carbon technologies towards green growth in developing countries and support the implementation of Japan's international commitments on mitigating greenhouse gas emissions. Fourteen countries have so far taken part in the JCM in the world and Vietnam is the 6th country to sign an MoU towards implementing the mechanism.
Speaking at the signing ceremony, Minister Ha said that the signing of an MoU to carry out JCM until the end of 2030 has great significance in the context that the world is moving together towards United Nations Climate Change Conference (COP26) with stronger commitments to repel the climate "crisis”.
The document not only serves as a foundation for the two governments to implement cooperation activities but also demonstrates their sense of responsibility to deal with the above-mentioned challenges, he said.
The minister expressed his wish that this mechanism would become a model for cooperation between Vietnam and Japan in technology development and transfer, attracting the participation of a large number of Vietnamese and Japanese businesses.
Japanese Environment Minister Yamaguchi Tsuyoshi Michael appreciated Vietnam's contributions to the cooperation in solving urgent regional and international environmental issues in general as well as the implementation of the JCM in particular during the past time.
He said he was confident that the signed MoU would help the two countries promote cooperation in realizing commitments on responding to climate change, mitigating greenhouse emissions and actively contributing to Vietnam's goal of a carbon-neutral economy./.