Daegu City Secures 12.7 Billion KRW in Extra Revenue through Landfill Gas Resource Utilization... Leading Carbon Neutrality

Securing Extra-Budgetary Revenue by Selling Carbon Emission Permits
Currently Secured a Total of 2.8 Million Tons of Carbon Emission Permits

Landfill Gas Resource Recovery Facility. [Image Source=Daegu City]

[Asia Economy Yeongnam Reporting Headquarters Reporter Yeo Jong-gu] Daegu City announced on the 23rd that it secured 12.7 billion KRW in non-tax revenue by selling 390,000 tons of carbon emission credits obtained through the "Landfill Gas Resource Recovery Project."

Since 2007, the city has registered the landfill gas resource recovery project as a UN Climate Change Convention CDM (Clean Development Mechanism) project, and has been certified by the UN for the amount of methane from landfill gas used as boiler fuel by Korea District Heating Corporation as greenhouse gas reductions, securing a total of 2.8 million tons of carbon emission credits to date.

The 390,000 tons of carbon emission credits sold by Daegu City this time were issued by the UN as carbon emission credits for greenhouse gases reduced through the landfill gas resource recovery project over two years from August 2017 to August 2019, converted into externally certified project performance (KOC) that can be sold domestically, and then sold.

As a result, Daegu City has secured a total of 2.8 million tons of carbon emission credits since 2007, earning 53.5 billion KRW in non-tax revenue. Additionally, it expects to secure approximately 43 billion KRW more in non-tax revenue by receiving 1.4 million tons of carbon emission credits from 2020 to 2028.

Mayor Kwon Young-jin of Daegu said, “We will actively discover and foster greenhouse gas reduction projects through the development of eco-friendly advanced industries to lead global carbon neutrality and create new business models in the era of a low-carbon economy.”

This content was produced with the assistance of AI translation services.