18 May 2017
Climate change is a multidimensional problem at the nexus of energy, environment and ecosystems (3E). In order to successfully tackle the issue of climate change, it is essential, as it agree at Conference of the Parties (COP) 21 in Paris, 2015, for both developed and developing countries to attain low-carbon growth by fully mobilizing technological and financial means through public-private cooperation. The Joint Crediting Mechanism (JCM) targets to facilitate the diffusion of advanced low-carbon technologies, products, systems, services and infrastructure, which advance mitigation action and contribution to global sustainable development (MOEJ, 2017). Japan advanced technologies, like high efficiency heat pumps can contribute to low-carbon growth more widely and expeditiously in developing countries. The main purpose of this paper to assess JCM carbon credit mechanism, which designed to allow flexible technology transfer and mitigation measures can potentially reduce the greenhouse gas emissions (GHG) and to promote application of energy-efficient technologies to society of developing countries, leading them to sustainable development. Nevertheless, the consideration of the incentive structures such as markets, rules, norms, and scientific information that can most effectively improve social applications to energy efficiency.