• Geophysics and Geophysical Exploration
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• v.26 no.4
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• pp.157-170
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• 2023

In South Korea, carbon capture and storage (CCS) techniques have attracted considerable attention as part of efforts to achieve the 2030 Korean Nationally Determined Contribution. However, owing to delays in large-scale CCS projects in South Korea, interest in cross-border CCS projects, wherein CO₂ captured in South Korea is stored in overseas CCS facilities, has increased. In this study, we investigated the development status of the CarbonNet project in the Gippsland Basin, Australia. First, we provide a brief overview of sedimentary basins and CCS projects in Australia. Subsequently, we review the geological history of the Gippsland Basin, the site of the large-scale CCS project. Finally, we summarize the site selection process for the CarbonNet project and discuss the suitability of the Pelican site for large-scale CCS projects.

• Journal of Climate Change Research
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• v.6 no.4
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• pp.257-265
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• 2015

For estimating a net removal of carbon dioxides from a forest carbon offset project, it is necessary to consider secondary emissions occurred from the use of machineries or vehicles. According to the forest carbon standard in Korea, a default rate (5%) could be applied for estimating secondary emissions of small projects, which provide annual net removals less than or equal to $600tCO_2$, while secondary emissions should be estimated for larger projects with field survey. In this study, we intended to develop a methodology for estimating the secondary emission of a forest carbon project. For this purpose, we analyzed the working process and the carbon emissions of the forest management activities for major tree species in Korea. Based on the developed methodology, we estimated the secondary carbon emission of a reforestation project. The result showed that the secondary carbon emission of a reforestation project was estimated between 0.42% and 1.19 % compared to net removals, that is to say that the current default rate in the forest carbon standard could give an overestimated secondary emission.

• Journal of Climate Change Research
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• v.7 no.4
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• pp.391-396
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• 2016

This study was intended to analyze the average abatement cost (AAC) of forest carbon offset projects to suggest a basic credit price for government purchase of forest carbon credits. For this purpose, an a/reforestation project and a forest management project were designed with 30 years of project period. It is assumed to plant pine trees (Pinus densiflora) for the a/reforestation project, while it is assumed to replace rigida pine trees(Pinus rigida) with oak trees (Quercus acutissima) for the forest management project. For each project, the forest carbon stock was calculated and the revenue and the cost were analyzed with standardized management activities. Korea Forest Service has supported private forest owners the cost of management activities and the consulting fee for designing carbon offset project. Therefore, the AAC were analyzed for two cases : the one with subsidy for consulting fee (case 1) and the other with subsidy for both consulting fee and management costs (case 2). In addition, the sensitiveness of AAC was analyzed according to the 4 credit prices : ￦5,000, ￦10,000, ￦15,000 and ￦20,000. The result showed that the AAC analyzed for the case 1 was so high that net revenue would not be expected from all project types with any credit price. However the AAC analyzed for the case 2 was relatively lower than the AAC of case 1. Net revenue was expected from a/reforestation project with credit price over ￦10,000, while from forest management project with credit price over ￦15,000. Based on the AAC analyzed in this study, ￦15,000 was suggested as the basic price for government purchase of forest carbon credit.

• Journal of Environmental Impact Assessment
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• v.20 no.1
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• pp.79-87
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• 2011

In this study, we investigated the effect of carbon sequestration and sink on the environmental impact assessment of a housing redevelopment project. Through the case study, we found that the amount of carbon sequestration and sink increased with the increase of the area of park and green space and, furthermore, the amount of carbon emission decreased slightly with implementation of district heating and renewable energy. Therefore, it is necessary for its land use plan to be established to minimize the amount of net carbon emission, taking account of both the amount of present carbon emission and the amount of the future carbon sink, sequestration, and emission.

• Journal of the Korean Society of Environmental Restoration Technology
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• v.26 no.3
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• pp.43-55
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• 2023

The railway project is an essential green transportation tool that is considered suitable for the domestic and foreign policy direction of carbon neutrality, but there are some limitations, such as damaging important carbon absorption sources during construction. This study analyzed the environmental impact assessment related to carbon absorption sources of greenhouse gas evaluation items conducted during the railway project, and limitations and implications were derived. The analysis of environmental impact assessment guidelines related to railway projects and carbon absorption sources dealt with prediction and reduction methods related to carbon absorption sources, but guidelines, including environmentally friendly railway construction guidelines, lacked descriptions. Since the greenhouse gas environmental impact assessment, 83 railway project environmental impact assessments have been reviewed, but in some cases, carbon absorption-related predictions have not been implemented, or carbon absorption-related reduction measures have been insufficient. In addition, there were cases where there was a limit to calculating emissions and reduction or where the reduction value was insignificant compared to emissions. In order to supplement the environmental impact assessment in the field of carbon absorption sources related to railway construction projects, alternatives such as quantitative emission and low reduction calculation, review of the no net loss system using the total environmental resource system, and linkage with climate change impact assessment are needed.

• New & Renewable Energy
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• v.20 no.1
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• pp.26-37
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• 2024

Renewable energy sources play a key role in achieving carbon neutrality and zero net emissions in the power generation sector. Various efforts have been made to support the deployment of renewable energy, particularly solar photovoltaic and wind power, including policies to internalize the external cost of carbon emissions. In this study, we conducted a financial analysis of a 800 MW floating photovoltaic system and compared it with ground solar power generation. Additionally, we conducted a cost-benefit analysis that included the social cost of carbon. The findings showed that the floating photovoltaic project can meet the profitability target through an appropriately designed internalization of the social cost of carbon.

• Economic and Environmental Geology
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• v.54 no.6
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• pp.733-741
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• 2021

Globally, in accordance with the goals set forth in the 2015 Paris Climate Agreement, each country has established and declared a reduction target for carbon neutrality by 2050. The roadmaps for establishing long-term greenhouse gas emissions development strategies and setting reduction targets have been announced. As the international community accelerates the transition to the net-zero society, 128 countries have declared net-zero by the end of 2020, and the net-zero declaration continues to expand around G20 member states. In December 2020, Korea announced the "2050 Net-zero Strategy" to establish a foundation for simultaneously achieving carbon reduction, economic growth, and improved quality of life for the people through active response to the net-zero, and pursuing policy tasks in stages to do this. Comprehensive carbon management is insufficient due to the lack of comprehensive carbon management due to the departure from the areas of mandatory reduction, such as the GHG energy target management system and the GHG emissions trading offset system implemented to reduce greenhouse gases in Korea. Currently, there is no cases for estimation or calculation of carbon dioxide emissions for the Mine Reclamation projects. It is reviewed the standard methods proposed by domestic and foreign carbon emission calculation methods and proposed appropriate carbon emission estimation methods for the Mine Reclamation projects in this study.

• Korean Journal of Construction Engineering and Management
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• v.24 no.6
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• pp.45-52
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• 2023

Recently, as climate change caused by greenhouse gases is intensifying, the international community has committed to reduce greenhouse gas emissions. The purpose of this study is to present the methodology and major considerations for investment judgment. Two actual cases of overseas projects were selected as study subjects. As an analysis method, the major risk factors were defined as a probability distribution, and the NPV was stochastically estimated using the Monte Carlo simulation method. In addition, assuming a policy change, the range of NPV change was analyzed. As a result, the average NPV of project A was lowered by 19%, and the probability of showing a negative NPV was 12.2%. The average value of project B was lowered by 12.5%. Considering the policy change, project A can obtain economic benefits only when it obtains 72.9% or more of the total amount of carbon credits generated, and project B is economically feasible when it acquires 49.5% or more. As a result, the average value of project A is lower than the net present value under basic assumptions, so caution is needed in investment decisions depending on changes in major risk factors. Additionally, considering policy changes, the carbon credit distribution ratio should be differentially applied depending on the project size, and this was presented as a specific figure.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.46
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• pp.265-313
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• 2010

Kyoto Protocol is an international convention on concrete performance program for UNFCCC(United Nations Framework Convention on Climate Change), which regulate and prevent to global warming and officially came into effect on February 16, 2005. Kyoto flexible mechanisms, the agreed environmental system in March 1997 in the Third Conference of Parties in UNFCCC General Assembly, Emission Trading System(ETS), Clean Development Mechanism(CDM) and Joint Implementation(JI), are key policies related to environment. In advanced countries, greenhouse gas emissions should be reduced average 5.2% level compared to 1990 in total emissions during 2008-2012. World leading carbon market finished the trial on the EU ETS I greenhouse gas emissions trading system, EU ETS II is operated regularly after 2008. World Bank leads to make 'Prototype Carbon Fund(PCF)' in April 2004, which is the world first carbon fund and a representative public carbon fund type, World Bank operate various funds including present PCF. Thus, I would like to propose as follows in relation to this study: First, in the validity analysis of carbon funds, it would be needed to analyze the Emission Reduction Cost Efficiency(ERCE) of carbon. The ERCE is a break-even value which brings the Net Present Value(NPV) to zero. NPV approach is used among projects and it enables potential projects to be compared and evaluated the ERCE on the basis of the net present value of net future cash flows. Therefore, according to results of analysis, carbon funds should be developed and invested. Second, it would be necessary to allow of issuing bonds together with carbon funds, carbon finance etc. Third, carbon funds, it would be reasonable to have a relatively enough maturity in project and as a financial derivatives in the international financial markets, it is needed various types of transactions. Fourth, it would be needed to standardize the carbon emissions trading for more efficiently. Fifth, it would be necessary to establish and invest in various kinds of domestic and overseas global carbon funds, including governments, privates, governments and privates sectors. And it is also needed to establish the medium and long term plans for carbon funds. Sixth, it would be needed to foster the advanced trade mechanisms for carbon funds in the most effective ways. Finally, carbon funds should be used in harmony with international societies to reduce global warming as the social responsible investing funds and it should be contribute to sustainable development. In addition, it would seem that carbon funds should be studied on establishing the contributable standard of sustainable development in the future assignment.

• Atmosphere
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• v.27 no.3
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• pp.301-316
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• 2017

This study analyzes the spatio-temporal variability of terrestrial carbon flux and the response of land carbon sink with climate factors to improve of understanding of the variability of land-atmosphere carbon exchanges accurately. The coupled carbon-climate models of CMIP5 (the fifth phase of the Coupled Model Intercomparison Project) and CT (CarbonTracker) are used. The CMIP5 multi-model ensemble mean overestimated the NEP (Net Ecosystem Production) compares to CT and GCP (Global Carbon Project) estimates over the period 2001~2012. Variation of NEP in the CMIP5 ensemble mean is similar to CT, but a couple of models which have fire module without nitrogen cycle module strongly simulate carbon sink in the Africa, Southeast Asia, South America, and some areas of the United States. Result in comparison with climate factor, the NEP is highly affected by temperature and solar radiation in both of CT and CMIP5. Partial correlation between temperature and NEP indicates that the temperature is affecting NEP positively at higher than mid-latitudes in the Northern Hemisphere, but opposite correlation represents at other latitudes in CT and most CMIP5 models. The CMIP5 models except for few models show positive correlation with precipitation at $30^{\circ}N{\sim}90^{\circ}N$, but higher percentage of negative correlation represented at $60^{\circ}S{\sim}30^{\circ}N$ compare to CT. For each season, the correlation between temperature (solar radiation) and NEP in the CMIP5 ensemble mean is similar to that of CT, but overestimated.