Ethiopia and Japan signed a document concerning Bilateral Offset Credit Mechanism on Monday May, 27, 2013 in Addis Ababa. Finance and Economic Development State Minister Ahmed Shide and Japanese Ambassador to Ethiopia, Hiroyuki Kishino signed the document.

The partnership is aimed at contributing to international efforts to prevent global warming by cooperating in the reduction of greenhouse gas emissions between the two countries through the mechanism.

Ahmed on signing ceremony said the document will strengthen financial and technological support to activities being carried out to reduce carbon emission and build green economy.

Environmental Protection Authority Director-General Dr. Tewoldeberhan GebreEgziabher on his part said the document will significantly contribute towards Ethiopia’s plans to achieve zero net carbon emissions.

Ambassador Kishino said “through this partnership, we promote investment and use of low carbon technologies, products, systems, services and infrastructure to achieve low carbon growth in Ethiopia."

The Bilateral Offset Credit Mechanism (BOCM) is a program in which Japan's contribution to reduction and absorption of greenhouse gas emissions in partner countries through transferring Japan's low-carbon technology and products is calculated and evaluated as credits for contribution.

Source: ENA