Hwaseong City and GH to Promote Carbon Emissions Trading for Green Spaces and Parks in Dongtan2 New Town

Cooperation on Creating a Carbon-Neutral Forest
in the Buffer Green Zone

Hwaseong City in Gyeonggi Province is partnering with Gyeonggi Housing and Urban Corporation (GH) to promote carbon emissions trading based on green spaces and parks in the Dongtan2 New Town area. The city will also create a 'carbon-neutral forest' in the buffer green zone within the new town.

At the 'Dongtan2 New Town Carbon Neutral Green Growth Business Agreement Ceremony' held in the small conference room of Hwaseong City Hall on the 9th, Cho Seungmoon, the 2nd Vice Mayor of Hwaseong City (left), and Lee Jongseon, Vice President of Gyeonggi Housing and Urban Corporation, are holding up the agreement document. Provided by Hwaseong City

On the 9th, Hwaseong City signed a 'Business Agreement for Carbon Neutrality and Green Growth in Dongtan2 New Town' with GH at the small conference room of City Hall, focusing on these initiatives.

Under this agreement, the two organizations will designate 1.07 million square meters of parks, green spaces, and public open spaces within the GH project area of Dongtan2 District as carbon sink target areas, and will pursue external project certification for the forest sector emissions trading scheme from the Ministry of Environment. In addition, a 'carbon-neutral forest' will be created in Buffer Green Zone No. 5 of Dongtan2 District.

The 'external project certification for the forest sector emissions trading scheme' is a program in which local governments and others have the government certify the amount of carbon dioxide absorption increased through the creation of forests and parks, allowing these achievements to be utilized in the emissions trading market.

The city expects that certification registration and the creation of the carbon-neutral forest under this agreement will reduce greenhouse gas emissions by approximately 141 tons annually.

GH plans to apply for project certification to the Ministry of Environment in August. Once the project registration is completed in December, Hwaseong City will be responsible for the maintenance and monitoring of Buffer Green Zone No. 5 and the park green spaces.

Cho Seungmoon, the 2nd Vice Mayor of Hwaseong City, said, "This agreement is a meaningful example of local governments and public institutions actively responding to climate change together. We will continue to discover various green projects to support the national greenhouse gas reduction policy and realize a carbon-neutral city."