Low Carbon Growth Partnership
between the Japanese side and the Maldivian side

1. The Japanese side and the Maldivian side (hereinafter referred to as “both sides”), inpursuit of the ultimate objective of the United Nations Framework Convention on
Climate Change (hereinafter referred to as the “Convention”) as stated in its Article 2
and of achieving sustainable development, and in order to continue to address climatechange in cooperation beyond 2012, promote the Low Carbon Growth Partnership asfollows.
2. Both sides hold close policy consultations at various levels for cooperation toward low
carbon growth under the UN, at the regional and bilateral frameworks.
3. Both sides, in order to promote investment and deployment of low carbon technologies,products, systems, services and infrastructure to achieve low carbon growth in theRepublic of Maldives, establish a Joint Crediting Mechanism (hereinafter referred to as
the “JCM”) and implement it in accordance with the relevant domestic laws andregulations in force in respective countries.
4. Both sides establish the Joint Committee to operate the JCM.
(1)The Joint Committee consists of representatives from both sides.

(2)

Rules of procedures of the Joint Committee, including its membership, areformulated through consultations between both sides.

(3)

The Joint Committee develops rules and guidelines regarding the JCM,
methodologies to quantify the amount of greenhouse gases emission reductions
or removals, requirements for the designation of third-party entities, and othermatters relating to the implementation and administration of the JCM asnecessary.

(4)

The Joint Committee convenes meetings on regular basis to evaluate theimplementation of the JCM.

5. Both sides mutually recognize that verified emission reductions or removals from themitigation projects under the JCM can be used as a part of their own internationallypledged greenhouse gases mitigation efforts.
6. Both sides ensure the robust methodologies, transparency and the environmental
integrity of the JCM and maintain the JCM simple and practical, to promote concrete
actions for global greenhouse gases emissions reductions or removals.
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7. Neither side uses any mitigation projects registered under the JCM for the purpose of
any other international climate mitigation mechanisms to avoid double counting on
greenhouse gases emission reductions or removals.
8. Both sides work in close cooperation to facilitate financial, technological and capacity
building support necessary for the implementation of the JCM.
9. The JCM starts its operation as the non-tradable credit type mechanism. Both sides
continue consultation for the transition to the tradable credit type mechanism and reach aconclusion of such consultation at the earliest possible timing, taking account ofimplementation of the JCM.
10. Both sides aim for concrete contributions to assisting adaptation efforts of developing
countries, including the Small Island Developing States and the Least DevelopedCountries, through the JCM after the JCM is converted to the tradable credit typemechanism.
11. This partnership covers the period until a possible coming into effect of a newinternational framework under the Convention. Both sides consider possible extension ofthis partnership and reach a conclusion before its termination, taking into account, interalia, the progress made in the United Nations negotiations on climate change.
12. Any dispute arising out of or in connection with this partnership will be settled amicably
between both sides. In case attempts at amicable negotiation fail of any such dispute, thispartnership will be terminated by mutual written consent between both sides with due
considerations to the registered projects under the JCM.
13. Any content of this partnership is modified only by mutual written consent between bothsides.
Signed in Okinawa on 29th June 2013, in two originals in the English language.

FOR THE JAPANESE SIDE

FOR THE MALDIVIAN SIDE

Nobuteru Ishihara
Minister of the Environment

Dr. Mariyam Shakeela
Minister of Environment and Energy2