• International conference on construction engineering and project management
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• 2011.02a
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• pp.368-375
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• 2011

Along with the growing interest in greenhouse gas reduction, the effect of energy reduction from green buildings is gaining interest as well. However, green buildings may have difficulties in financing due to their high initial construction costs. With this in mind, the objective of this study is to suggest a financing model for green building projects with a governmental guarantee based on CER (Certified Emission Reduction). In other words, in the financing model, the government provides a guarantee for the increased costs of a green building project in return for CER. The suggested financing model was tested and found feasible for implementing green building projects. In addition, the model in this study is applicable to private projects because guarantee has its return. To utilize CER as a return for a financial guarantee, however, certification of CDMs (Clean Development Mechanism) for green buildings must be vitalized.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2020.06a
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• pp.44-45
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• 2020

Korea has the fourth highest CO₂ emission among OECD countries in 2018, As of 2019, total greenhouse gas emissions per capita increased by about 98.2% in comparison to 1990. Korea has promised a 37% reduction in greenhouse gas emissions in 2030 from the projected Paris Climate Change Accord. Currently, many countries use the emissions trading system(ETS) for international carbon management. In 2015, ETS has been implemented in Korea, and the importance of calculating CO₂ emissions from construction machinery has increased. So, we require an accurate calculation of the environmental charges through the allocated CERs. Using the CER price and related search keywords, this paper derive about prediction models of CER price and compare and focus on more accurate prediction about CER price. By this method, the budget needed to establish the initial construction process plan can be calculated based on more accurate predicted CER price.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.67 no.4
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• pp.512-521
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• 2018

Islands that is far away from onshore have used internal-combustion engine driving alternators to secure electric power. However, with Paris convention on climate change, there is a growing interest in eco-friendly energy independent island that replaces microgrid(MG) consisting of photovoltaic, wind power, and energy storage system with alternators for internal combustion engines. And also, national emission trading has been implemented, and the price of certified emission reduction(CER) has a influence on system marginal price(SMP). Because, the low cost generation source decides SMP when CER price is low, while the more expensive generation source decides SMP when CER price is high. Therefore, the increasing of CER price has a strong influence on the annualized return of MG independent power producer. Moreover, the fixed RPS price is implemented from 2017, which the increasing of CER price under the fixed RPS price or the variable RPS price affects annualized return differently. In this paper, the annualized return according to CER price is analyzed for large, middle, and small scaled islands, the effect of CER price on the annualized return was confirmed.

• Environmental and Resource Economics Review
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• v.19 no.4
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• pp.829-852
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• 2010

The investment in Clean Development Mechanism (CDM) projects is increasing rapidly as the first implementation period began in 2008. This paper examines on the optimal level of primary Certified Emission Reduction (CER) price, subsidiary original projects investment cost and expected issues CER per year, using UNFCCC CDM Project Design Document (PDD) data. Real option model is developed to incorporate a case where the investment is irreversible and underlying asset price is uncertainty. This study employs Real option approach which allow the optimal level regard as economic feasibility of CER price has analyzed with NPV (Net Present Value) and Black-Scholes call option(Real option) value. Finally, CER supply curve and price elasticity of supply are estimated.

• Journal of Korean Society of Forest Science
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• v.96 no.3
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• pp.235-244
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• 2007

Potentials of AR CDM project in North Korea are assessed and feasible land area for AR CDM project is estimated. According to our estimation, There could be 515,000 hectares of forest lands deforested before 1990 in North Korea and 8,854 hectares at the regional level of Gae-sung City, which are eligible for AR CDM project, based on researches of satellite image analyses conducted from 1980's to 1990's. A baseline scenario assumed 44.73 tones of carbon stored in soil per hectare with no vegetation above ground remained during the project period following the default value of IPCC's Good Practice Guidance for LULUCF considering soil structure, climate and land use of the project area. The scenario also assumes that black rocust (Robinia pseudoacacia) is planted and the CDM project is implemented for 20 years. The costs for producing greenhouse gases CER (certified emission reduction) credits include costs of tree planting and forest management, and costs of project negotiation and transactions for issuing the credits. It is estimated that 376 tones of carbon dioxide per hectare can be accumulated and 503 temporary CER credits per hectare and 265 long-term CER credits per hectare could be produced during the project period. It is estimated to cost US$ 4.04 and US$ 7.67 to provide one unit of temporary credit and long-term credit, respectively. These values can be regarded as the cost of conferring emission commitment of a country or a private entity. However, it is not clear which option is better economically because the replacement periods are different in these two cases.

• Journal of Korean Society of Environmental Engineers
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• v.31 no.8
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• pp.679-689
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• 2009

Light olefins are very important hydrocarbons widely used as the raw materials of the most petrochemicals including plastics and medicines. In addition, the nation's olefin production capacity is regarded as one of the key indicators to predict the nation's economic scale and growth. Steam cracking of naphtha (or called "NCC (Naphtha Cracking Center) technology"), the traditional process to produce light olefins, is one of the most consuming energy processes among the chemical industries. Therefore, this process causes tremendous $CO_2$ emission. To reduce the energy consumption and $CO_2$ emission from NCC process, the present paper, firstly, investigates and analyses some alternative technologies which can be potentially substituted for traditional process. Secondly, applying the alternative technologies to NCC process, their effects such as energy savings, $CO_2$ emission reduction and CER (Certified Emission Reduction) were estimated. It is found that the advanced NCC process can reduce approximately 35% of SEC (Specific Energy Consumption) of traditional NCC process. This effect can lead to the reduction of 3.3 million tons of $CO_2$ and the acquisition of the 128 billion won of CER per year. Catalytic cracking of naphtha technology, which is other alternative processes, can save up to approximately 40% of SEC of traditional NCC process. This value equates to the 3.8 million tons of $CO_2$ mitigation and 147 billion won of CER per year.

• Journal of Climate Change Research
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• v.9 no.4
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• pp.453-460
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• 2018

The purpose of this study is to analyze the potential quantity of Korean Offset Credits (KOC) resulting from Certified Emission Reductions (CER) in 98 domestic Clean Development Mechanism (CDM) projects that were registered with the United Nations Framework Convention on Climate Change (UNFCCC) as of the end of 2016. Our results show that the total amount of potential KOC is 62,774 kt CO2eq. The potential KOC is only 23.4% of the total CER Issuance. During the first phase, this will be 3.2% of the allocated volume. This is because many projects are related to Renewable Portfolio Standard (RPS), HFC-23, and adipic acid N2O. There is a strong bias in some sectors and projects which could act as market distortion factors. Therefore, it is necessary to expand the target CDM project and activate non CDM offset projects. RPS projects bring fundamental changes to the energy sector, and it is worth reconsidering their acceptability. A wide variety of policy incentives are needed to address strong biases toward certain sectors and projects. The offset scheme has the advantage of allowing entities to reduce their GHG emissions cost effectively through a market mechanism as well as enabling more entities to participate in GHG reduction efforts both directly and indirectly. In contrast, having an inadequate offset scheme range and size might decrease the effort on GHG reduction or concentrate available resources on specific projects. As such, it is of paramount importance to design and operate the offset scheme in such a way that it reflects the situation of the country.

• Korean Chemical Engineering Research
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• v.48 no.1
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• pp.39-44
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• 2010

Economic feasibility of power generation system using waste woody biomass in a circulating fluidized bed combustor has been investigated. Effects of important variables such as capital investment, cost of waste wood, certified emission reduction(CER), system marginal price(SMP) on the benefit of business have been analyzed. Internal rate of return(IRR) was predicted as 16.67%, which implicates the business is promising based on the assumptions such as SMP of 99 Won/kWh, capital cost of 10.65 billion won, and complimentary providing of waste wood. Major factors affecting the benefit of business were as follows; system marginal price, operational rate, capital investment, expenditure of waste wood, certified emission reduction. In addition, it must be necessary to consider CHP power plant providing steam as one of the means to diversify sales network, for the management of the business risk.

• Journal of Agricultural Extension & Community Development
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• v.19 no.1
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• pp.147-178
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• 2012

청정개발체제(CDM)는 1997년 교토의정서(Kyoto protocol)를 통해 확립된 온실가스 배출과 관련된 선진국과 개도국 간 협력 기제의 하나이다. 청정개발체제는 기본적으로 선진국의 정부 또는 민간조직이 개도국에서 배출감축 프로젝트를 수행하고, CER(Certified Emission Reduction)의 형태로 배출권을 얻는 것을 허용하고, CER을 자국의 배출감축목표 달성을 위해 사용할 수 있도록 하고 있다. 이 연구의 목적은 아세안 국가들의 청정개발 메커니즘의 성취도를 알아보는데 있으며, 자료는 2010년 10월 15일 현재 유엔기후변화기본협약(UNFCCC)에 등록된 254개 청정개발체제 사업을 대상으로 분석하였다. 이 연구의 결과, 전체 254개 사업 중 20%만이 탄소배출권을 받은 것으로 나타났으며, 실제 탄소배출권의 총량은 650만 톤이지만, 이는 전체 사업계획서에 반영된 양의 15%에 불과한 것으로 분석되었다. 또한 아세안 국가의 CDM사업과 관련된 장애 요인으로서는 (1) 사업 등록과 탄소배출권 승인 간 시간 격차가 존재하고, (2) 사업계획과 실제 승인량에 차이가 나타나며, (3) 특히 소규모 사업의 경우 높은 거래 비용 때문에 등록 후 배출승인을 신청하지 않고 있는 것으로 나타나고 있다. 이러한 연구결과는 아세안국가들이 CDM사업을 수행하는 데 있어서 선진국들의 주요 파트너가 되고 있지만, 실제로 사업을 통한 탄소배출량은 제한적일 수 있음을 의미한다. 따라서 일부 아세안 국가에서 교토의정서에 따라 자체적으로 탄소배출감축을 시도하고 있음을 고려할 때, 자체적인 CDM의 성공적인 경영, 수행, 운영을 위해 더 많은 선진국들의 협력과 지원이 주어질 필요가 있다.

• Journal of Korean Society for Geospatial Information Science
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• v.20 no.4
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• pp.77-87
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• 2012

Discussion on North Korea as UN-REDD (Reduced Emissions from Deforestation and Degradation in developing countries) project target continues with a view to preventing deforestation and to securing CER(certified emission reduction) for South Korea. However, due to North Korea's political shutdown, it is hard to acquire information required for the REDD project registration. This research intends to acquire objective data using satellite images in the Mt. Geumgang. More than 20% of entire forested area were disappeared during the past two decades mainly due to conversion into agricultural farming land. Further, it is expected that persistent deforestation will go on. The reduction potential of the carbon emission is estimated as approximately 617,000 tCO2/year~663.000 tCO2/year. Thus, Mt. Geumgang is considered as realistic REDD target, which is attractive to South Korea, given that the obligation to reduce greenhouse gas emission is likely to be imposed upon the country. Further, political and social benefits due to reduced military conflict make Mt. Geumgang as UN-REDD project target invaluable.