The Ministry of Energy and Minerals, on behalf of the Government of the Sultanate of Oman, has signed a Memorandum of Cooperation with the Government of Japan on the Joint Crediting Mechanism (JCM), as part of the Ministry’s ongoing efforts to advance climate action, achieve net-zero targets, and promote investment in emission reduction projects.
The Memorandum was signed on behalf of the Government of the Sultanate of Oman by H.E. Eng. Salim bin Nasser Al Aufi, Minister of Energy and Minerals, while it was signed on behalf of the Japanese side by H.E. Kiyoshi Serizawa, Ambassador of Japan to the Sultanate of Oman.
The Joint Crediting Mechanism (JCM) is a bilateral framework initiated by the Government of Japan to facilitate the implementation of greenhouse gas emission reduction projects and to promote the transfer and deployment of advanced decarbonization technologies among partner countries.
The mechanism enables both countries to implement joint projects and share the resulting carbon credits, supporting their respective national commitments under the Paris Agreement. With the signing of this Memorandum, the Sultanate of Oman joins an international framework comprising more than 30 partner countries, reflecting its commitment to strengthening international cooperation in addressing climate change.
The Memorandum is expected to contribute to attracting Japanese investment and financing for emission reduction projects across key sectors, including renewable energy, energy efficiency, green hydrogen, and carbon capture technologies.
It will also support the transfer of advanced technologies to the Omani market, enhance national capabilities in measurement, reporting, and verification (MRV) of emissions, and create additional revenue streams through the development and trading of carbon credits. This cooperation aligns with the Sultanate of Oman’s strategy to achieve net-zero emissions by 2050, while reinforcing its position as a regional hub for carbon markets.
From Japan’s perspective, the partnership presents opportunities to expand the presence of Japanese companies in the Omani market by deploying advanced decarbonization technologies. In addition, carbon credits generated from joint projects in Oman will support Japan’s nationally determined contributions (NDCs) and its compliance with emissions trading frameworks under its green transformation initiatives. Pursuant to the Memorandum, a joint committee will be established to develop operational rules, approve methodologies, and oversee the implementation and monitoring of JCM projects.
