The city of Suwon in Gyeonggi Province achieved the milestone of selling emission allowances for the first time in nine years since the implementation of the 'Greenhouse Gas Emissions Trading System' in 2015.
Suwon announced on the 19th that it secured a surplus of 12,469 tons of greenhouse gas emission allowances, settled 2,645 tons borrowed in 2022, carried over 7,392 tons, and sold the remaining 2,432 tons.
Implemented in January 2015, the Greenhouse Gas Emissions Trading System is one of the government's key strategies for reducing national greenhouse gas emissions. The government allocates annual emission allowances to local governments and companies, allowing them to buy, borrow, sell, or carry over emission allowances.
Local governments participate in the emissions trading system on equal footing with general companies as waste treatment operators. In Suwon, 10 environmental infrastructure facilities, including public sewage treatment plants, are subject to mandatory regulations.
From 2018 to 2021, Suwon exceeded its target emissions, borrowing allowances for the following year or purchasing allowances by investing budget. Since population has a decisive impact on emission calculations in the waste sector and Suwon's population has steadily increased, purchasing greenhouse gas emission allowances was unavoidable.
However, starting from 2022, when the 8th elected administration began, Suwon has been focusing on achieving carbon neutrality in the public sector and steadily reducing greenhouse gas emissions.
A Suwon city official stated, "We will continue to promote waste reduction projects, replace outdated facilities, and introduce renewable energy," adding, "We will devote efforts to greenhouse gas reduction projects and move forward as a city leading carbon neutrality."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
