Unlocking new opportunities for Ukrainian business through the Joint Credit Mechanism (JCM) financial programs
The Ministry of Environmental Protection and Natural Resources of Ukraine, together with the Ukrainian Climate Office within the Capacities for Climate Action (C4CA) project, held a webinar for business representatives on financing programs under the Joint Crediting Mechanism (JCM). This bilateral cooperation mechanism, established by the Government of Japan in 2013, will soon be officially launched in Ukraine.
The Joint Credit Mechanism, established by the Japanese government in 2013, will soon be officially launched in Ukraine. An overview of the mechanism and its benefits for Ukrainian business was presented during a webinar for business representatives, along with an analytical report prepared by the Capacities for Climate Action (UCO) project. In addition, successful examples of JCM projects implemented by other countries were presented during the event.
Mr. Kotaro Tanaka, Counselor at the Embassy of Japan in Ukraine, emphasized in his welcoming speech: “Today’s event will allow businesses to gain the necessary knowledge about JCM opportunities and learn about tangible examples of the benefits of implementing such projects. By investing in JCM’s projects in Ukraine, you are investing in sustainable, low-carbon technologies to rebuild energy infrastructure, driving transformational change and building the future of Europe.”
Analytical report on the financial programs within JCM mechanism is available in English.
Bohdan Semenenko, Director of the Department of Industrial Pollution Prevention and Climate Policy of the Ministry of Environmental Protection and Natural Resources of Ukraine, has stressed: “One of the strategic goals of Ukraine is to achieve carbon neutrality by 2050. JCM mechanism will promote the development of low-carbon technologies and green recovery in compliance with modern standards. Our priority is to make it possible to use such instruments in Ukraine, which will allow us to attract Japanese technologies and investments.”
During the Q&A session, the participants learned more about the current status of the JCM implementation and online resources where they can find useful materials on the mechanism.
“The JCM plays a key role in transferring advanced low-carbon technologies to key partner countries such as Ukraine. The Ukrainian Climate Office supports the use of these technologies for GHG emission reductions. And we are sure that today’s event will help deepen our understanding of how JCM can support green projects and open access to financial resources, bringing climate goals closer, thus supporting sustainable development,” summarized Julia Jesson, Project Leader of the Capacities for Climate Action (C4CA/UCO) project, GIZ.
The event was jointly organized by the Ministry of Environmental Protection and Natural Resources of Ukraine together with the Ukrainian Climate Office under the Capacities for Climate Action (C4CA) project, which is implemented by GIZ on behalf of the German Federal Ministry for Economic Affairs and Climate Action (BMWK) within the framework of the International Climate Initiative (IKI) and co-financed by the European Union.