[Energy Daily Reporter Cho Nam-joon] The Korea Environment Agency (KEA), an affiliate of the Ministry of Environment, signed a business agreement with 10 companies, including Sunjin Engineering, for the International GHG Reduction Project at the Chosun Palace in Gangnam-gu, Seoul, on the 25th.

The purpose of the agreement is to establish a cooperation system with companies that will carry out the ‘International GHG Reduction Project’ this year to achieve the 2030 National Greenhouse Gas Reduction Target (NDC).

International reduction initiatives is used as a complementary measure to domestic reduction and aims to secure 37.5 million tons in 2030 through public-private partnership projects.

This year, the Korea Greenhouse Gas Agency selected four projects and 10 companies for feasibility study support through the ‘International GHG Reduction Project’ target project competition.

The selected projects are Vietnam, Uzbekistan’s landfill gas capture project, Ghana’s water purification system supply project, and Vietnam’s rice farming methane reduction project, all of which are targeted at countries that have signed agreements with Korea to promote International reduction initiatives.

At the signing ceremony, the Corporation also shared with the United Nations Development Program (UNDP) and the Global Green Growth Institute (GGGI) how to secure substantial reductions through the ‘International Greenhouse Gas Reduction Project’.

Ms. Leticia Guimaraes, Head of Carbon Markets at UNDP, introduced the project and shared sustainable development measures in Uzbekistan and Ghana.

Mr. Lee Kyu-wook, a member of the Global Green Growth Institute (GGGI), introduced the current status of greenhouse gas reduction projects and emphasized the need for collaboration with the Corporation to overcome climate change.

Lee Seo-hyun, head of the International Development Cooperation Team at the Ministry of Environment, said, “International reduction initiatives can help companies expand into overseas markets and jointly respond to the global climate crisis,” adding that the government will provide policy support in the future.

“The KEPCO will provide necessary support to domestic companies in the environmental field with competence and contribute to the achievement of the national NDCs by establishing close cooperation with the governments of mitigation project partner countries,” said Ahn Byeong-ok, chairman of KEPCO.