Collaboration for a Low-Carbon Future
India and Japan are deepening their green energy partnership through the Joint Crediting Mechanism (JCM) framework, aiming to accelerate decarbonization efforts and boost economic growth. MATSUZAWA Yutaka, Vice Minister for Global Environmental Affairs, Japan, highlighted this collaboration at the India-Japan Environmental Business Promotion seminar in New Delhi. The event, jointly organized by the Ministry of Environment, Japan, FICCI, JCCII, IGES, and OECC, brought together experts from both nations to discuss sustainability initiatives and green investments.
Japan has set a net-zero target by 2050, while India is committed to a 45% reduction in emissions by 2030 and achieving net-zero by 2070. Both countries recognize the need for technology transfer, investment in clean energy, and public-private partnerships to drive sustainable development.
Key Areas of India-Japan Green Cooperation
1. Expansion of the Joint Crediting Mechanism (JCM)
Japan is working closely with India to enhance green investments and carbon crediting mechanisms through JCM. This initiative facilitates the transfer of low-carbon technologies, allowing both nations to reduce emissions while fostering economic growth.
2. Focus on Energy Efficiency and Green Hydrogen
Milind Deore, Secretary of the Bureau of Energy Efficiency, Ministry of Power, India, emphasized India’s ongoing collaboration with Japan in energy efficiency programs. He highlighted key initiatives such as:
✔️ Perform, Achieve, and Trade (PAT) scheme – Resulted in energy savings of 25 million tons of oil equivalent and reduced 10 million tons of CO₂ emissions.
✔️ Development of energy efficiency guidelines – Joint efforts between India and Japanese institutions to establish best practices for industries.
✔️ Green hydrogen production – Recognized as a critical element for deep decarbonization, with Japan supporting India’s expansion in this sector.
3. India’s Domestic Carbon Market Initiative
India is set to launch its domestic carbon market within six months, beginning with compliance targets for major industries. The initiative will later expand into an offset market, creating new opportunities for carbon trading and investment in clean technologies.
Corporate and Policy Leaders Driving Sustainability
Manish Sharma (FICCI & Panasonic Life Solutions)
Sharma emphasized the role of responsible resource efficiency, conservation, and circular economy in sustainability. He pointed out that the Resource Efficiency and Circular Economy Industry Coalition (RECEIC), formed during India’s G20 Presidency, is driving industry-led policy action and knowledge sharing.
IINO Satoru (Ministry of Environment, Japan)
Satoru highlighted Japan’s commitment to carbon markets and sustainability, emphasizing:
✔️ Carbon dioxide removal technologies – To reduce emissions effectively.
✔️ Investment in green hydrogen and solar energy – To power industrial transformation.
✔️ Green ammonia production – A key sector for India-Japan cooperation in clean energy.
Rajani Ranjan Rashmi (TERI & Former MOEFCC Special Secretary)
Rashmi reiterated that India and Japan’s low-carbon partnership is crucial for reducing emissions and promoting clean energy investments. He emphasized India’s goal of sourcing 50% of its energy from renewables by 2030 and the importance of continued investment in green technologies.
The Road Ahead: Strengthening Green Investments
1. Technology Transfer & Policy Support
Both nations are focused on developing innovative technologies and sustainable policies. India’s push for low-cost solar power, expanded energy storage, and green hydrogen production aligns with Japan’s expertise in renewable energy and environmental policies.
2. Scaling Up Carbon Markets
India’s carbon market initiative will provide new avenues for investment, while Japan’s Joint Crediting Mechanism (JCM) will help offset emissions and promote clean energy projects.
3. Public-Private Collaboration
A strong partnership between industries and governments is necessary to drive progress. India’s Greenko Group, represented by Dr. Rambabu Paravastu, stressed the need for deep decarbonization technologies and Japanese investments in India’s green sector.
Conclusion: A Sustainable Future for India and Japan
The India-Japan green partnership is a crucial step toward achieving global sustainability goals. By leveraging technology transfer, strategic investments, and carbon market mechanisms, both countries are paving the way for a low-carbon economy. With growing opportunities in green hydrogen, energy efficiency, and circular economy initiatives, India and Japan are set to become leaders in the global decarbonization movement.
As both nations continue their joint efforts toward net-zero emissions, this collaboration will not only benefit economic growth but also ensure a sustainable and resilient future for generations to come.
