• International conference on construction engineering and project management
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• 2013.01a
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• pp.107-110
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• 2013

Recently, Korea parliament legislated the Low Carbon Green Growth Act (April, 2012) and approved a bill (May, 2012) to start carbon emission trading system in 2015. It means that for the first time, government would regulate the amounts of carbon emission in private entities, and private entities should attain predefined emission reduction goals by implementing clean development mechanism (CDM) project or buy the Certified Emission Reductions (CERs) from the trading market to avoid penalty. Under these circumstances, it is not easy for them to determine when or how to implement the CDM project because the governmental energy policies about the level of governmental subsidies, periods for free emission allocation, etc. are still under discussion and the future price of the CERs is quite uncertain. Thus, this study presents a real-option based model to assess the financial viability of the CDM project which switches bunker-C oil to liquefied natural gas (LNG). The proposed model is expected to assist private entities in establishing the investment strategy for CDM project under uncertain government energy policies.

• Proceedings of the Korea Air Pollution Research Association Conference
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• 2006.10a
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• pp.200-203
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• 2006

• Journal of Climate Change Research
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• v.9 no.4
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• pp.453-460
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• 2018

The purpose of this study is to analyze the potential quantity of Korean Offset Credits (KOC) resulting from Certified Emission Reductions (CER) in 98 domestic Clean Development Mechanism (CDM) projects that were registered with the United Nations Framework Convention on Climate Change (UNFCCC) as of the end of 2016. Our results show that the total amount of potential KOC is 62,774 kt CO2eq. The potential KOC is only 23.4% of the total CER Issuance. During the first phase, this will be 3.2% of the allocated volume. This is because many projects are related to Renewable Portfolio Standard (RPS), HFC-23, and adipic acid N2O. There is a strong bias in some sectors and projects which could act as market distortion factors. Therefore, it is necessary to expand the target CDM project and activate non CDM offset projects. RPS projects bring fundamental changes to the energy sector, and it is worth reconsidering their acceptability. A wide variety of policy incentives are needed to address strong biases toward certain sectors and projects. The offset scheme has the advantage of allowing entities to reduce their GHG emissions cost effectively through a market mechanism as well as enabling more entities to participate in GHG reduction efforts both directly and indirectly. In contrast, having an inadequate offset scheme range and size might decrease the effort on GHG reduction or concentrate available resources on specific projects. As such, it is of paramount importance to design and operate the offset scheme in such a way that it reflects the situation of the country.

• Journal of the Korean Geographical Society
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• v.49 no.6
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• pp.865-883
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• 2014

This study investigated the carbon offset project activities as the activities of producing commodities by a case study on the Korean Clean Development Mechanism(CDM) industry. This study draw the networks of Korean CDM industry by extracting major agents and surrounding agents and by analyzing the characteristics of the linkages. The project participants owning the CDM projects hires CDM consultancies and designated operational entities(DOEs). The technical knowledge for carbon emission reduction made links between project participants and the CDM project operational knowledge made links between project participants and CDM consultancies. Links between project participants and DOEs are affected by social and geographical proximities. The value of the knowledge for CDM industrial activities determined the role of agents and type of linkages. The agents with the irreplaceable knowledge could be a project conducting firms. The agents without it became outsourcing contractors.

• Journal of the Economic Geographical Society of Korea
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• v.20 no.4
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• pp.486-502
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• 2017

This study investigated the formation process and networks of Korean Clean Development Mechanism(CDM) industry. It aimed to reveal the factors and the drivers for the formation processes of this industry in the specific place. Based on the analysis of the Project Design Documents(PDDs) of the CDM projects and the collected project data by international institutions, surveys, and interviews were done. On the basis of these data, the analysis on the industrial change as complex emergent effects by the network evolution caused by adaptive activity of firms is conducted. In the time of the genesis, a kind of serendipity that the industrial activities of Korean firms meet to new system, CDM, In the changing process of the Korean CDM industry, the role of policies fo Korean Government was important to promote the new and renewable energy projects of the power companies. In the time of restructuring, Korean government policies formed new initial conditions for the new domestic GHGs reduction industry. In this processes, the localization of knowledge acted as a key driver for the formation of the Korean CDM industry.

• Proceedings of the KIEE Conference
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• 2006.07a
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• pp.420-421
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• 2006

The cost-effective reduction of greenhouse gas(GHG) emission to avert the most severe impacts of climate change remains one of the widely accepted priorities for global action. In order to facilitate cost-effective abatement strategies, the Kyoto Protocol introduced three mechanisms, or flexible instruments, the Emissions Trading(ET), the Joint Implementation(JI) and the Clean Development Mechanism(CDM). The CDM enables Annex I countries to the Kyoto Protocol to partially meet cost-effectively their emission reduction commitments by undertaking GHG mitigation Projects in developing countries, which do not have any GHG abatement obligations and where the emission reductions are cheaper. One of the major barriers hampering the wide spread implementation of CDM is the high transaction costs associated with the initial identification of promising CDM projects. This paper presents development of a pre-validation program of CDM. The developed program may provide a useful aid to potential investors and project developers as a supportive pre-evaluation tool, and may become an effective tool for the promotion of renewable energy and fuel switching projects.

• STI Policy Review
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• v.1 no.3
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• pp.1-15
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• 2010

This paper makes the case that a new policy strategy to enhance a global green recovery is needed urgently. The new strategy requires two essential elements. First, G20 economies should follow the lead of South Korea and China and turn their green stimulus investments into a serious long-term commitment, and to support these investments, they should adopt environmental pricing policies and instigate pricing and regulatory reforms to reduce carbon dependency. Second, the G20 also needs to target and coordinate assistance to developing economies in science, technology and innovation (STI) for clean energy. Such assistance is essential to help developing economies to overcome the skills, technological and capital gap that they face in clean energy technologies over the long term. Reform of the Clean Development Mechanism (CDM) is also necessary to establish a long-term global price signal for carbon, and to increase the coverage of developing economies, the sectors and technologies and the overall financing of clean energy projects. Formulating such a policy strategy should appeal to both the Asian-Pacific and Western economies comprising the G20, and by working together to formulate such a strategy, the G20 could lead the way toward a new era of global economic management and STI cooperation in clean energy.

• Journal of the Korean Society for Marine Environment & Energy
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• v.14 no.1
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• pp.51-64
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• 2011

Carbon dioxide Capture and Storage (CCS) is one of the key players in greenhouse gas (GHG) reduction portfolio for mitigating climate change. CCS makes simultaneously it possible not only to reduce a huge amount of carbon dioxide directly from the emission sources (e.g., coal power plant) but also to maintain the carbon concentrated-energy and/or industry infrastructure. Internationally, the United Nations Framework Convention on Climate Change (UNFCCC) is dealing the agenda for considering the possibility of including CCS project as one of Clean Development Mechanism (CDM) projects. Despite its usefulness, however, there are the controversies in including CCS as the CDM project, whose issues include i) non-permanence, including long-term permanence, ii) measuring, reporting and verification (MRV), iii) environmental impacts, iv) project activity boundaries, v) international law, vi) liability, vii) the potential for perverse outcomes, viii) safety, and ix) insurance coverage and compensation for damages caused due to seepage or leakage. In this paper, those issues in considering CCS as CDM are summarized and analyzed in order to suggest some considerations to policy makers in realizing the CCS project in Korea in the future.

• Journal of ILASS-Korea
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• v.20 no.2
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• pp.88-94
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• 2015

Recently, exhaust gas regulation has been gradually strengthened due to depletion of fossil fuels and environmental problem like a global warming. Due to this global problem, the demand for eco-friendly vehicle development is rapidly increasing. A clean diesel vehicle is considered as a realistic alternative. The common-rail fuel injection system, which is the key technology of the clean diesel vehicle, has adopted injection strategies such as high pressure injection, multiple injection for better atomization of the fuel. In addition, the emission regulations in the future is expected to be more stringent, which a conventional engine is difficult to deal with. One of the way for actively proceeding is the study of alternative fuels. Among them, the bio-diesel has been attracted as an alternative of diesel. So, in this study, spray characteristics of bio-diesel was analyzed in the common-rail fuel injection system with three injectors driven by different operating mechanism.

• Journal of Environmental Policy
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• v.8 no.2
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• pp.83-118
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• 2009

Clean Development Mechanism(CDM) projects under the Kyoto Protocol have two objectives. One is to assist the Parties included in Annex I in achieving compliance with their quantified emission limitation and reduction commitments in cost-effective ways by allowing them to implement emission reduction projects in Non-Annex I countries and receive CERs, which will offset their reduction commitments. The other is to assist Parties not included in Annex I in achieving sustainable development and technology transfers through investments by Annex I countries. However, in reality, it is said that the former objective is achievable but the latter is not. In this light, this article suggests sustainability appraisal criteria applicable for Korea. Among various methodologies, we used the 'multi-attributes utility theory(MAUT)'; one of the 'multi-criteria analysis (MCA)' methodologies judged to be the most practical and relevant. Based on the guidelines of the MAUT methodology, we identified sustainability criteria that meet the guidelines. We took two tracks, the first to find the preferences of Korean experts, and the other to check foreign cases. In all, 37 preliminary criteria were suggested to Korean experts and each criterion was scored, from between 1 and 3, in terms of relevance, possibility of real improvement, easiness of data collection, and preferences. We combined foreign cases and the results of a survey conducted in Korea and selected 12 core criteria and 10 additional criteria. After that, all the criteria were converted into indicators. The indicators were applied to a CDM project for case study. We chose the "Sihwa Tidal Power Project", which is currently the biggest tidal power plant in the world. Twelve core indicators and 3 additional indicators were applied. In order to weight each indicator, the 'analytical hierarchy process (AHP)' was used. A total of 30 experts were asked to suggest weights and 21 answered. Among them, only 14 respondents were proven to meet the consistency ratio. We analyzed the 14 responses through Expert Choice and the CDM project was scored (+)53.082. In addition, sensitivity analysis was undertaken with the result of (+)44.667 to (+)65.522. As a result of this study, it was proven that this project would contribute to the sustainable development of Korea.