1. Introduction to the businesses
  2. Energy saving in buildings
  3. Countermeasures 
against climate change
    1. Analyses of greenhouse gas statistics
    2. Korea Voluntary Emission Reduction program (KVER)
    3. CDM
    4. Domestic Emission Trading Pilot Project
    5. Carbon Cashbag
    6. Carbon Neutral Pogram
    7. International cooperation on energy efficiency
  4. Energy saving 
in transportation
  5. New? renewable 
energy
  6. Inspection of heat-using machines and equipment
  7. Energy Audit
  8. Energy Service Company (ESCO)
  9. Support in the form of funds and tax incentives
  10. Integrated Energy Supply (IES)
  11. Consultation for Energy Use plan
  12. Efficiency management system
  13. bottom
HOME >INTRODUCTION TO THE BUSINESSES> Countermeasures against climate change > Korea Voluntary Emission Reduction program (KVER)
Korea Voluntary Emission Reduction program (KVER)
Background
Since the Kyoto Protocol took effect, Korea has made continuous efforts to combat climate change as a Non-Annex I country by integrating its energy-saving efforts with greenhouse-gas emissions reduction efforts. Recognizing the necessity of taking immediate action on climate change, KEMCO has championed numerous energy-saving initiatives, including the Korea Voluntary Emission Reduction Program (KVER). Launched in October 2005, the KVER is the first GHG emissions reduction program among non-Annex I countries. The objective of the KVER is to support Korean Small and Medium Companies and to build capacity in tackling climate change.

Eligibility Criteria

  1. Application : Companies without reduction obligation
  2. Reduction amount: more than 100 tCO2 GHG emissions annually
  3. Project start date: should fall within 1 year from the date of registration request
  4. Eligible Project :
    - GHG reduction projects through improved energy efficiency
    - Renewable energy projects
    - Other GHG emission-reduction projects approved by the government

Incentives

  1. The government also purchases KCERs (1 KCER = 1tCO2 reduction) from certified projects to promote companies participation and to voluntary GHG emissions reduction efforts.
    - Purchasing price : variable (About 11 USD / tCO2 in 2012)
    - After purchasing the KCERs, the ownership of project credits is transferred to the government.

Status of Projects under KVER

Year 2007 2008 2009 2010 2011 2012
Registered projects 62 86 66 44 24 75
Certified projects 38 88 161 204 226 176
CO2 reduction (ton) 941,307 1,927,043 2,720,353 3,199,545 3,333,095 2,396,963

Contact

  1. Tel. +82-31-260-4526~8
  2. Fax. +82-31-260-4549
  3. E-mail. gentle2006@kemco.or.kr, shyun003@kemco.or.kr, pjg@kemco.or.kr