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

1. The Japanese side and the Bangladeshi 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 lowcarbon 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
Bangladesh, establish a Bilateral Offset Credit Mechanism (hereinafter referred to as the“BOCM”) 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 BOCM.
(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 BOCM,
methodologies to quantify the amount of greenhouse gases emission reductions
or removals, requirements for accreditation of third-party entities, and othermatters relating to the implementation and administration of the BOCM asnecessary.

(4)

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

5. Both sides mutually recognize that verified reductions or removals from the mitigation
projects under the BOCM can be used as a part of their own internationally pledged
greenhouse gases mitigation efforts.
6. Both sides ensure the robust methodologies, transparency and the environmental
integrity of the BOCM and maintain the BOCM 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 BOCM for the purpose of
any other international climate mitigation mechanisms to avoid double counting ongreenhouse 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 BOCM.
9. The BOCM 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 BOCM.
10. Both sides aim for concrete contributions to assisting adaptation efforts of developing
countries through the BOCM after the BOCM is converted to the tradable credit typemechanism.
11. This partnership covers the period from the date this document is signed until a possible
coming into effect of a new international framework under the Convention. Both sides
consider possible extension of this partnership and reach a conclusion before its
termination, taking into account, inter alia, the progress made in the United Nations
negotiations on climate change.
12. Any content of this partnership may be modified only by mutual written consent between
both sides.
Signed in Dhaka on 19th March 2013, in two originals in the English language.

Shiro Sadoshima
Ambassador Extraordinary andPlenipotentiary of Japanto the People’s Republic of Bangladesh

Md. Shafiqur Rahman Patwari
Secretary
Ministry of Environment and Forest
People's Republic of Bangladesh2