CloudAir Strengthens Investment in 'Greenhouse Gas Reduction Technology'... "Focusing on Nurturing New Carbon Reduction Businesses"
[Asia Economy Reporter Yoo Hyun-seok] CloudAir announced on the 29th that it will strengthen its investment in 'greenhouse gas reduction technology' and focus on fostering new carbon reduction businesses.
On the 22nd, the 'Climate Summit' attended by leaders from 40 countries on 'Earth Day' concluded successfully. The United States and Europe announced plans to raise their '2030 Nationally Determined Contributions (NDC)' targets. South Korea also expressed its intention to further raise its NDC within this year.
We are facing an era where the level of greenhouse gas emissions is directly linked to a company's international competitiveness. The European Union (EU) revealed plans to introduce a 'carbon border tax' to be fully implemented starting in 2023, and this movement is expanding across various industries.
Currently, to be internationally recognized for greenhouse gas reduction technology, it is essential to obtain approval for the 'Clean Development Mechanism (CDM) methodology' from the United Nations Framework Convention on Climate Change (UNFCCC). Without UN methodology approval, certification of reduction performance through greenhouse gas projects is currently impossible.
CloudAir has acquired technologies including high-value astaxanthin rapid production technology using photosynthetic microorganisms, CO2 reduction technology in the atmosphere linked to renewable energy, and CO2 reduction technology in industrial exhaust gases.
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A CloudAir representative stated, “We will sequentially develop new businesses focusing on carbon reduction technologies with high business potential. Regarding greenhouse gas reduction projects linked to renewable energy that can achieve substantial greenhouse gas reductions, we expect to gradually secure elemental technologies and expand business partners related to renewable energy technologies from a mid- to long-term perspective, while also anticipating policy support.”
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