Gyeongnam Province Publishes 'Climate-Aware Budget Report' Analyzing Climate Impact by Project

Gyeongsangnam-do Provincial Government.

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Gyeongsangnam-do announced on the 4th that it will share the ‘2022 Gyeongsangnam-do Climate-Conscious Budget,’ which reflects the analysis results of greenhouse gas reduction and the impact on climate change for all policies and projects, the first of its kind nationwide, with residents through the provincial website starting from the 7th.

The climate-conscious budget is a budgeting system designed to actively respond to the climate crisis by evaluating the effects of various policies or projects promoted by the province on the climate and environment, and reflecting these in budget formulation and execution.

Through this, the budgeted policy projects related to climate are classified into climate-friendly projects (climate policy projects, partial reduction projects), climate adverse impact projects, and climate potential impact projects.

This year’s climate-conscious budget analyzed KRW 7.8154 trillion out of the original Gyeongsangnam-do budget of KRW 11.3302 trillion, excluding KRW 3.5147 trillion for administrative operating expenses and financial activity costs. The results showed 14% for friendly projects, 5% for adverse impact projects, 2% for potential impact projects, and 48% for neutral projects.

Climate-friendly projects mainly include environmental basic facility carbon neutrality program support, solar power distribution, ecological park and forest creation, and other projects aimed at expanding the environment and renewable energy, with a total investment of KRW 1.5812 trillion.

Adverse impact projects include transportation and logistics sectors such as road construction, facility establishment, and civil engineering projects, with a total investment of KRW 553.2 billion.

Compared to last year, the budget for friendly projects increased by KRW 358.1 billion by expanding existing projects such as ‘electric vehicle distribution’ and ‘support for renewable energy facilities in the agricultural sector,’ while the adverse impact projects were reduced by KRW 69.2 billion.

Detailed analysis results by sector and project for the 2022 climate-conscious budget can be found on the Gyeongsangnam-do website.

The province plans to continuously review measures to reduce greenhouse gases and achieve environmental goals through climate-conscious budget analysis.

Jung Seok-won, Director of the Climate Environment and Forestry Bureau of Gyeongsangnam-do, said, “The climate-conscious budgeting system is an important greenhouse gas reduction tool that can increase the greenhouse gas reduction effects of policies or projects promoted by the province through the budget.”

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