Idemitsu Vietnam Highlights the Need for JCM Methodologies in Agriculture at ODA Seminar in Hanoi

On March 18th, Idemitsu Vietnam participated in a high-level seminar titled  “Development Policy Loan for Green Transformation toward Green Growth and Climate Resilience”, co-hosted by the Ministry of Finance of Vietnam and the Japan International Cooperation Agency (JICA) in Hanoi.

At the seminar, the company introduced its ongoing carbon credit generation project in sugarcane fields in Thanh Hoa Province, implemented in collaboration with Lam Son Sugar Cane Joint Stock Co., a Vietnamese sugar company, and Sagri Co., Ltd., a Japanese startup. The project aims to achieve cost-effective carbon credit generation by combining carbon farming practices-such as reducing chemical fertilizer use and applying organic fertilizers to increase Soil Organic Carbon (SOC)-with satellite data analysis to efficiently monitor SOC levels.

Drawing on experience from projects utilizing satellite technology and AI-based analysis to monitor greenhouse gas (GHG) emission reductions, the company highlighted the necessity of developing methodologies under the Joint Crediting Mechanism (JCM) applicable to the agricultural sector.

The seminar provided an opportunity for the company to share practical insights and reaffirm its  commitment to contributing to policy discussions on green transformation and climate action in cooperation with the Governments of Vietnam and Japan.

Going forward, further discussions are expected to advance the development of JCM methodologies, including those relevant to agriculture.