Vietnam and Japan have approved the implementation rules for the Joint Crediting Mechanism (JCM), which governs emission reduction projects that generate carbon credits shared between the two countries. The rules were adopted at the 10th meeting of the JCM Joint Committee and set out procedures for project idea approval, registration, and credit issuance. They also align with Vietnam's Decree 112/2026, which regulates the international exchange of emission reduction results and carbon credits. The JCM has been running since 2013. So far, 14 projects have completed registration and issued more than 35,000 carbon credits. The new rules are meant to give businesses a clearer legal and technical path for developing projects under the mechanism, and the two sides plan to finalize a Handbook and review the forms needed for participation. For anyone tracking carbon markets in Southeast Asia, this is a sign that Vietnam is formalizing its international credit pipeline.
