Jakarta (VNA) – Indonesia and Japan on November 12 agreed to start implementing the Mutual Recognition Arrangement (MRA) for the implementation of bilateral carbon trading cooperation between the two countries.
Indonesian President’s special envoy to COP 29 UNFCCC Hashim S. Djojohadikusumo affirmed that the Indonesian government is ready to implement the agreement that has been signed with Japan in order to strengthen bilateral carbon commerce collaboration.
The MRA agreement is the world's first model of bilateral cooperation between countries within the Paris Agreement framework.
Meanwhile, Japan's Vice Minister of Global Environmental Affairs Yutaka Matsuzawa said he was glad to be present at the Indonesia Pavilion to discuss further efforts to reduce greenhouse gas (GHG) emissions.
He affirmed that the discussions can intensify collaboration between the two countries in accelerating the reduction of GHG emissions.
He stated that based on this MRA, Japan wants to formulate and develop concrete projects for GHG reduction in Indonesia and, with such experience, both countries can contribute to global GHG reduction.
Earlier, Indonesia signed the MRA document on October 18, 2024, and Japan on October 28, 2024.
The MRA is built on the principle of equality between Indonesia's carbon credit system and its partner countries. In the carbon credit system agreement, Indonesia and Japan mutually recognise mitigation methodologies, emission reduction calculations, the monitoring, reporting, and verification (MRV) system, and the carbon credit certification./.
