Sudogwon Landfill Site Corporation Earns 62.2 Billion KRW from Carbon Emission Allowance Sales

Metropolitan Landfill Gas Collection Well
Photo by Metropolitan Landfill Site Management Corporation

[Asia Economy Reporter Park Hyesook] The Sudokwon Landfill Site Management Corporation announced on the 14th that it earned 62.2 billion KRW in revenue by selling 5.1 million tons of carbon emission credits issued by the United Nations (UN) through its CDM (Clean Development Mechanism) project in domestic and international emission trading markets.

The corporation's CDM project is a greenhouse gas reduction initiative that captures gas generated during the decomposition of landfill waste to reduce the amount released into the atmosphere and utilizes the captured landfill gas as fuel for a 50MW power generation facility.

The corporation registered the CDM project with the UN in 2007 and was recognized for reducing greenhouse gases by capturing 2.199 billion cubic meters of landfill gas from 2007 to 2017, receiving 8.82 million tons of carbon emission credits.

Among the issued carbon emission credits, 2.4 million tons were sold in the international market, and after the introduction of the domestic emission trading system in 2015, 2.7 million tons were sold in the domestic market, generating 62.2 billion KRW in revenue.

A representative of the Sudokwon Landfill Site Management Corporation stated, "To reduce waste, the main cause of greenhouse gas emissions, from this year we will collect 0.13 to 3.15% of the waste disposal fee as a greenhouse gas emission charge."

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