Press briefing of Cabinet Decision taken on 2022-09-05

Implementation of the Joint Crediting Mechanism between Japan and Sri Lanka

- In accordance with the Paris Agreement on Climate Change ratified on 21st September 2016 by Sri Lanka, the Nationally Determined Contributions to reduce Green House Gas (GHG) emissions under the sectors of energy, industry, transport, waste, forestry and agriculture have been submitted to the United Nations Framework Convention on Climate Change. The Joint Crediting Mechanism introduced by Japan in year 2013 reduces the GHG emissions jointly with developing countries and shares the reduced amount proportionally between the agreed party country and Japan. The proposal made by the Minister of Environment to sign a Memorandum of Corporation between Sri Lanka and Japan to implement the said mechanism between two countries as well, was approved by the Cabinet.