Pohang City’s ‘Haedo Urban Forest’ Approved for Greenhouse Gas Emissions Trading System... Unveiling Ceremony Held

Rest Area Transformed into Money-Making Forest!

On the 18th, Pohang City held a plaque unveiling ceremony for the approval of the greenhouse gas emissions trading system at Haedo Urban Forest.

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] Pohang City, Gyeongbuk, held a plaque unveiling ceremony on the 18th with Mayor Kang-deok Lee and related officials in attendance, following the approval of the Haedo Urban Forest greenhouse gas emissions trading system.

The "Greenhouse Gas Emissions Trading System" is a system that allocates an annual set amount of emissions to greenhouse gas emitting companies to meet the national total greenhouse gas emission targets and allows trading of deficits and surpluses.

The greenhouse gas emissions trading rights are a carbon reduction policy implemented in many countries around the world, centered on the EU, and were introduced in South Korea after the signing of the Paris Climate Change Agreement in 2015.

The "Haedo Urban Forest," a result of the city's Greenway Project, is a forest created by Pohang City from May 2018 to June 2020 on the existing Haedo Neighborhood Park lawn plaza. It covers an area of 84,400㎡ and planted mainly large trees of 35 species, totaling about 96,000 trees. The understory was planted mainly with shrubs such as hydrangeas to form a multi-layered structure, maximizing the effect of reducing fine dust inflow from the industrial complex.

The Greenway Project is a green infrastructure expansion effort to transform Pohang, known as a gray industrial city, into a green ecological city focused on quality of life and a pleasant environment. Since 2016, Pohang City has been promoting various projects such as a campaign to plant 20 million trees and the creation of large-scale urban forests.

On December 28 last year, Pohang City received final approval for the reduction certification of the "Greenhouse Gas Emissions Trading System External Project" for Haedo Urban Forest at the 42nd National Emission Certification Committee meeting, and completed the final registration of the external project for the greenhouse gas emissions trading system on December 31 last year.

This time, Haedo Urban Forest was certified for a total carbon absorption of 780 tons over the next 30 years, and the certified carbon absorption amount can be sold to companies requiring emission rights through the "Greenhouse Gas Emissions Trading System."

The emission rights currently hold a value of about 27 million KRW, and the city expects to gain more profits as emission rights trading becomes more active in the future.

Mayor Kang-deok Lee said, "With the approval of the reduction certification for the external project of the greenhouse gas emissions trading system, Pohang has established an image as a leading carbon-neutral city," and added, "Through the Greenway Project, we will strive to realize a 'city in the forest, a city embracing the forest' that connects people, urban culture, and nature."

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