SEOUL, KOREA ― The Environmental Impact Assessment (EIA) on greenhouse gas was executed in 2010 with results showing its effectiveness for reducing greenhouse gases due to developed businesses.
On the 5th, the Ministry of Environment announced that as a result of implementing the EIA on 53 developed businesses for the past two years (2010~2011), 11.47 million tons of greenhouse gases have been reduced. The EIA is a policy for evaluating and effectively reducing greenhouse gases which are emitted during the process of developing businesses. The policy requires businesses to establish plans to reduce greenhouse gases through land use, energy efficient improvement, resource recycling, etc.
The reduced 11.47 million tons are 4.7% of 2020’s goal for national greenhouse gas reduction, 244 million tons. The amount is 15.6% of Posco’s annual emission, 73.52 million tons. In addition, the reduced amount is 35.4% of the BAU, 32.39 million tons. This is the expected amount of emission when any separate reduction plan is not devised. Based on the average market price of EUA, economical effect of 216.7 billion won per year is expected.
The ministry is planning for more reduction of greenhouse gases by expanding the EIA in the future. To expand the reduction of greenhouse gas emitted during developed business are current 5 business industries – energy, city, industrial estate, road and tourism complex – for evaluation that will be expanded to all 18 businesses from 2012.
Strategic Environmental Assessment is also planning to establish the low carbon green development from the establishment phase.