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Daegu Earns KRW 2.6 billion in Tax Revenue by Selling Carbon Credits
Daegu city said on June 14 that it successfully reduced 270,000 tons of CO2 through 'Initiative of Gas Recovery from Bangcheon-ri Sanitary Landfill' and raised a total of KRW 2.6 billion in tax revenue by selling carbon credits through the KRX.
Under the initiative, the gas generated from the sanitary landfill is captured and purified before being sold to Korean District Heating Corporation (KDHC) as a source of clean energy.
As the first Korean city to have the initiative registered in the Clean Development Mechanism (CDM) of the UNFCCC in 2007 as part of its efforts to prevent climate change, Daegu has been selling the carbon credits that it obtains to the both domestic and overseas markets.
With the latest selling, the city estimated that it reduced 3.37 million tons of greenhouse gas, which resulted in an additional tax revenue, KRW 56.3 billion.
Date
2023.06.15
Views
98
According to Yonhap News,
Daegu city said on June 14 that it successfully reduced 270,000 tons of CO2 through 'Initiative of Gas Recovery from Bangcheon-ri Sanitary Landfill' and raised a total of KRW 2.6 billion in tax revenue by selling carbon credits through the KRX.
Under the initiative, the gas generated from the sanitary landfill is captured and purified before being sold to Korean District Heating Corporation (KDHC) as a source of clean energy.
As the first Korean city to have the initiative registered in the Clean Development Mechanism (CDM) of the UNFCCC in 2007 as part of its efforts to prevent climate change, Daegu has been selling the carbon credits that it obtains to the both domestic and overseas markets.
With the latest selling, the city estimated that it reduced 3.37 million tons of greenhouse gas, which resulted in an additional tax revenue, KRW 56.3 billion.
duck@yna.co.kr
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Source: Yonhap News (Jun 14, 2023)