JCM_MV_Glossary_ver01.0
Joint Crediting Mechanism Glossary of Terms
CategoryEmission
reductions
removals

No.
1.
or

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Term
Definition
Greenhouse Gases GHG are those gases of carbon dioxide (CO2),(GHG)
methane(CH4),
nitrousoxide(N2O),hydrofluorocarbons(HFCs),
perfluorocarbons(PFCs), sulphur hexafluoride (SF6) and nitrogen
trifluoride (NF3) (RoI para.2).
JCM project
GHG emission reductions or removals project
activities under the JCM (RoI para.3).
Eligibility criteria
Eligibility criteria are requirements for the JCM
project defined in the JCM methodology and containthe followings:(a) Requirements for the project in order to beregistered as a JCM project;(b) Requirements for the project to be able to apply
the JCM methodology.
Netdecrease In the JCM, emission reductions to be credited are
and/or avoidance defined as the difference between reference emissionsof GHG emissions and project emissions. The reference emissions arecalculated below business as usual (BaU) emissions
to ensure a net decrease and/or avoidance of GHGemissions.
Reference
Referenceemissions
arecalculated
below
emissionsbusiness-as-usual (BaU) emissions. Reference
emissions are calculated by multiplying a crediting
threshold which is typically expressed as GHG
emissions per unit of output by total outputs.
Business-as-usual
Business-as-usual(BaU) emissions represent(BaU) emissions
plausible emissions in providing the same outputs orservice level of the proposed JCM project in the hostcountry.
Crediting threshold Crediting threshold is typically expressed as GHG
emissions per unit of output. A crediting threshold isestablished ex ante in the methodology applicable forthe same project type in the host country. It should
also be established conservatively in order tocalculate reference emissions below BaU emissions.
Emissions sources Those emissions sources and GHG types whoseand GHG types
emissions are significant and reasonably attributable
to the JCM project.
Sinks and GHG Those sinks and GHG types whose removals ortypes
emissions are significant and reasonably attributable
to the JCM project.
Sectoral scope
The category of GHG source sectors or groups ofactivities that apply to JCM projects. It is based on thesectoral scope for the CDM. A JCM project may fallwithin more than one sectoral scope.
Level of assurance Level of assurance is defined as degree of assurance
the Joint Committee requires in a verification.
The level of assurance is used to determine the depthof detail that a verifier designs into their verification
plan to determine if there are any material errors,1

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Category

Governance

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Term

12.

Materiality

13.

Each side

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Documents/
infrastructure

18.

Definitionomissions or misrepresentations.
Materiality is a concept that individual or theaggregation
oferrors,omissions
andmisrepresentations could affect the greenhouse gas
assertion and could influence the intended users'decisions.

Each side, based on the rules and guidelines asdeveloped by the Joint Committee and/or inaccordance with relevant domestic laws andregulations in respective countries for theimplementation of the JCM:(a) Prepares draft methodologies and submits them to
the Joint Committee;(b) Establishes and maintains a registry in line withthe common specifications for registries, as developedby the Joint Committee;(c) On the basis of notification for issuance of creditby the Joint Committee (including for allocation ofcredits among participants), issues the notified
amount of credits to its registry.
Each side promptly informs the Joint Committee on
the issuance of credits under the JCM (RoIpara.13-14).
Joint Committee
The Joint Committee consists of the representatives
from the Maldivian side and the Japanese side.
The Joint Committee may develop or modify the rules
and guidelines necessary for the implementation ofthe JCM, approve proposed methodologies, designate
third party entities, register JCM projects, and notify
both sides to issue credits for a JCM project.
Joint Committee The Joint Committee establishes its secretariat for thesecretariat
implementation of the JCM (RoI para.12).
Third-party entity
A third-party entity is an entity designated by theJoint Committee, based on the criteria and procedures
established by the “Joint Crediting Mechanism
Guidelines for designation as a Third-Party Entity”, asqualified to validate proposed JCM projects as well asverify GHG emission reductions or removals.
Project participant A project participant is a government, private entity
and/or public entity involved to participate in a JCM
project which may develop and implement a JCM
project, monitor and report GHG emission reductions
or removals, and requests the Joint Committee tonotify each side to issue the credits.
Methodology

A methodology applied to JCM projects forcalculating emission reductions achieved by eachproject and monitoring the JCM project.
A proposed methodology is a methodology that has
been submitted to the Joint Committee for approval. A
proposed methodology consists of proposed
methodology form and Proposed Methodology2

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CategoryNo.

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Term

Definition
Spreadsheet.
An approved methodology is a methodology that has
been approved by the Joint Committee for application
to JCM projects. An approved methodology consistsof an approved methodology document and a
Monitoring Spreadsheet. Approved methodologies arepublicly available on the JCM website.
Proposed
A Proposed Methodology Spreadsheet is a part of aMethodology
proposed methodology developed by methodology
Spreadsheet
proponents.
A Proposed Methodology Spreadsheet defines amonitoring plan and enables calculation of GHG
emission reductions automatically through inputting
values. The Proposed Methodology Spreadsheet
consists of an input sheet and calculation processsheet.
Monitoring
A Monitoring Spreadsheet is a part of an approved
Spreadsheet
methodology.
The Monitoring Spreadsheet consists of a Monitoring
Plan Sheet (input sheet and calculation process sheet),
Monitoring Structure Sheet, and Monitoring Report
Sheet (input sheet and calculation process sheet). The
Monitoring Plan Sheet and Monitoring Structure
Sheet are used for developing a monitoring plan andcalculating emission reductions ex ante. TheMonitoring Report Sheet is used for preparing amonitoring report and calculating emission reductions
ex post. The Monitoring Plan Sheet and Monitoring
Report Sheet are prepared based on the Proposed
Methodology Spreadsheet and the Monitoring
Structure Sheet is added by the secretariat after theapproval of the proposed methodology by the JointCommittee.
Project
design The document prepared by the project participant of adocument (PDD)
JCM project which sets out in detail the JCM project
which is to be realized. A Project design document(PDD) consists of a completed PDD form andmonitoring plan using a Monitoring Plan Sheet andMonitoring Structure Sheet of the Monitoring
Spreadsheet. The form of PDD, Monitoring
Spreadsheet, and guidelines on preparing the PDD,
are publicly available through the JCM website.
Monitoring plan
A monitoring plan sets out the methodology to be
used by project participants for the monitoring of, andby third-party entities for verification of the amountof GHGs emission reductions achieved by the JCM
project. A monitoring plan is developed using
Monitoring Plan Sheet and Monitoring Structure
Sheet of Monitoring Spreadsheet.
Monitoring report
A monitoring report is prepared by a project
participant and sets out the GHG emission reductionsof an implemented registered JCM project for aparticular monitoring period. A monitoring plan is3

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Category

Project cycle

No.

Term

24.

Registry

25.

Credit26.

Modalities
of A modalities of communication statement (MoC)
from (or signed by) all project participants
communication
participating in a JCM project, defined in a prescribedstatement (MoC)
form, that designates one focal point entity tocommunicate on their behalf with the secretariat andthe Joint Committee in line with established scopes.
Validation
Validation is the process of independent evaluation ofa proposed JCM project by a third-party entity against
the validation guidelines as developed by the Joint
Committee on the basis of the PDD (RoI para.23).
Registration
Registration is the formal acceptance by the Joint
Committee of a validated project as a JCM project(RoI para.26).
Monitoring
Project participants implement a JCM project andmonitor GHG emission reductions or removals by theJCM project based on the PDD (RoI para.29).
Verification
Verification is the periodic independent review and ex
post determination by a third-party entity of themonitored GHG emissions reductions or removals asa result of a registered JCM project during theverification period (RoI para.30).
Issuance
The action taken by each side to issue the credits to itsof credits
respective account in the registry in line with thenotification of the Joint Committee.

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Definition
prepared using a Monitoring Report Sheet of aMonitoring Spreadsheet.
Each side establishes a registry to record and use thecredits (RoI para.33).
Credits are issued based on quantified amount of
GHG emission reductions or removals achieved by
the contribution of project participants in theimplementation of GHG emission reductions or
removals project activities under the JCM (RoIpara.3).

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