Fri Aug 29 18:13:45 UTC 2025: Here’s a summarized version and a news article rewrite based on the provided text:
**Summary:**
During Prime Minister Modi’s visit to Japan for the 15th India-Japan Annual Summit, India’s Environment Ministry announced the signing of a Memorandum of Cooperation (MoC) with Japan for a Joint Crediting Mechanism (JCM). The JCM allows Japan to invest in low-carbon technologies in India and count the resulting emissions reductions towards its own national climate targets. This partnership aims to encourage investment in sustainable technology, build local expertise, and facilitate international trading of carbon credits under the Paris Agreement, while ensuring India meets its own climate goals (NDCs). India has also established a National Designated Authority (NDA) to oversee carbon market projects.
**News Article:**
**India and Japan Partner on Carbon Emission Reduction with Groundbreaking Joint Crediting Mechanism**
**TOKYO – August 29, 2025** – Prime Minister Narendra Modi’s visit to Japan for the 15th India-Japan Annual Summit has yielded a significant step forward in global climate collaboration. India’s Environment Ministry announced today the formalization of a Memorandum of Cooperation (MoC) with Japan for a Joint Crediting Mechanism (JCM).
The JCM, a Japanese initiative, will see Japan investing in low-carbon technologies and projects within India. The resulting emissions reductions will be credited to Japan, helping it meet its national emissions reduction targets outlined in the Paris Agreement.
“The JCM will foster a surge in investment and technological assistance for low-carbon solutions in India,” stated a release from the Environment Ministry. “It will also play a pivotal role in building a robust domestic ecosystem and promoting partnerships to localize these technologies, paving the way for their widespread adoption.”
The agreement specifically facilitates the international trading of carbon credits generated by the JCM projects, aligning with Article 6.2 of the Paris Agreement. The Indian government assured that the trading would be conducted in a way that does not compromise India’s own ambitious climate goals (Nationally Determined Contributions). India is committed to reducing its emissions intensity by 45% by 2030, achieving 50% renewable energy capacity, and creating a significant carbon sink through afforestation.
Further solidifying its commitment to carbon market development, India recently established the National Designated Authority (NDA). This nodal agency will be responsible for approving JCM projects, assessing emissions reductions, and overseeing the Indian carbon market.
The Union Cabinet has also authorized the Environment Ministry to finalize the Rules of Implementation (RoI) and enter into similar agreements with other countries, in close consultation with other relevant government ministries. This indicates a proactive approach by India to engage in international carbon trading and attract foreign investment in sustainable development projects.
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