Japan and Vietnam upgrade JCM to meet Article 6 rules

Japan and Vietnam are upgrading their Joint Crediting Mechanism (JCM) framework to align with Article 6 rules under the Paris Agreement. The revisions focus on corresponding adjustments, accounting systems, reporting procedures, and double counting prevention to ensure JCM credits can comply with emerging international carbon market standards. JCM has been one of the few long-running bilateral carbon cooperation mechanisms globally, making its transition into the Article 6 framework closely watched by market participants. Observers say successful integration could strengthen international recognition and demand for JCM credits while supporting broader climate finance and low-carbon investment flows between the two countries. However, questions remain regarding implementation details, host country authorization, and accounting transparency.
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