Consideration of the Early Action in the GHG Emission Reduction

Enforcement Decree of the Framework Act on Low Carbon, Green Growth for achieving the country's GHG emission reduction goal of 30% was in effect. The remarkable content of the Act is the managements of targets for GHG reduction. So, the entities that have reduced voluntarily have much interest in the recognition of 'early action'. The recognition of early action is necessary to induce the fair competence of business entities and promote the voluntary GHG reduction. The definite and concrete guidance should be prepared. The important principles for this are the environmental integrity and the additionality. Based on this, the early action activities must be restricted to the voluntary, real, permanent, quantifiable, verifiable reduction. In the early action recognition, its credit should be allocated additionally set aside from the GHG target allocation in the national total allowance. Through this, the reward for the early reduction should be realized on market mechanism. The effective period to award the early action should be addressed. This can be the period after the enactment of framework on GHG reduction in effect and before the beginning year of GHG target control. It should be set with flexibility through the collection and consultation of the sector's opinions. The appropriate allowance reserve of early action was estimated as approximately 1~1.5% by using the data from the 'Pilot GHG Emission Trading Program' operated by Ministry of Environment. Also, the concrete and detail guidance to construct the necessary infra which is used to register the related information of early action activities should be prepared.

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