New Delhi, June 16 -- India and Japan have finalised the guiding protocol for a new carbon credit partnership called the Joint Crediting Mechanism (JCM), under the Paris climate agreement, officials from the Ministry of Environment, Forests and Climate Change said on Tuesday.
As part of the new system, India will accept Japanese investment and technology for funding projects to reduce or remove greenhouse gas emissions. The officials said that carbon credits can also be shared between the two countries, helping them meet their climate targets.
While the two nations signed the Memorandum of Cooperation (MoC) for the JCM last year, the rules for the implementation of the credit mechanism were adopted on June 8, the ministry clarified in a s...