Country:Korea
Year:2005
Policy status:In Force
Jurisdiction:National
Date Effective:2005
Policy Type:Economic Instruments>Fiscal/financial incentives>Grants and subsidies
Size of Plant Targeted:Small and Large
Climate Change Policy Targets:Framework/ Multi-sectoral Policy
Agency:Ministry of Trade, Industry and Energy (MOTIE), Korea Energy Agency (KEA)
URL:http://www.energy.or.kr/renew_eng/main/main.aspx
Legal References:Energy Use Rationalization Act
Funding:Government funding
Climate Change Description:

KVER evaluates GHG emission reduction projects of domestic SMEs and register their expected emission values. KEA verifies and validates the processes and certifies the actual reduction performance during the projects' peration period. The program aims to strengthen SMEs competitiveness and involve them in supporting climate change policy actions by providing technical, financial support.

From 2005 to 2014, 528 projects were registered in the program in areas such as energy recycle using waste heat recovery facilities, power generation by NRE facilities, and energy saving by industrial process innovation. Since 2006, 1,073 projects have passed the verification and alidation and monitoring process for 8 years, and KCERs of approximately 14.82 million tons of CO2eq were issued.

Last modified: Thu, 02 Jun 2016 15:51:58 CEST