Busan is good

Busan Metropolitan City Embarks on Full-Scale Effort to Secure Carbon Emission Credits Aiming for “2050 Carbon Neutrality”

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Busan Metropolitan City (Mayor Park Heong-joon) announced that it will launch a full-scale initiative to secure carbon emission credits by utilizing trees in an effort to achieve carbon neutrality by 2050 and take a proactive stance on climate change.

With global warming and related issues bringing carbon reduction to the forefront of social concerns, the international community has been making concerted efforts to achieve carbon neutrality by 2050. In alignment with these efforts, the Korean government declared its “2050 Carbon Neutrality Declaration” on October 28, 2020, followed by the announcement of its “2050 Carbon Neutrality Vision” on December 10 of the same year.

Additionally, the launch of the domestic emissions trading system in 2015 enabled the trade of certified greenhouse gas reduction achievements, prompting local governments to recognize the need to actively utilize the system.

In line with this trend, the city plans to secure approximately 1,500 tons of carbon credits by 2040 through the use of trees planted in forests, parks, green spaces, and residential complex sites, covering a total area of 300 hectares.

Starting in 2025, the city will proceed step by step over the course of 15 years, completing procedures such as external project registration, certification, and carbon credit acquisition.

The project targets tree planting areas created after the enforcement of the “Framework Act on Low Carbon, Green Growth,” focusing on areas that are not subject to legally mandated obligations. These include vegetation restoration sites in forests, areas damaged by wildfires, and additional planting areas within residential complexes beyond the legally required landscaping area.

Initially, the city will prioritize large-scale planting sites and then expand the project to smaller plots in stages.

This project is expected to not only enhance the city’s ability to respond to the climate crisis, but also to help attract eco-friendly businesses and revitalize the local economy.

Meanwhile, in June, the city was selected for the “External Project Registration Support Contest” organized by the Korea Forest Service, enabling it to save approximately KRW 55 million in consulting fees necessary for registration with the Ministry of Environment.

The selected project sites are two locations: a 20-hectare vegetation restoration area within Haeundae Arboretum and a 27-hectare wildfire-damaged site on Unbong Mountain in Haeundae-gu. The city is currently supplementing supporting documents and conducting on-site inspections for registration with the Ministry of Environment.

Busan plans to complete the project plan by the end of this year and finish the external project registration by March next year. From 2026 to 2030, the city aims to secure approximately 235 tons of carbon credits, while also promoting forest monitoring, carbon volume verification, and the sale of offset credits.

This project will secure carbon credits in five-year increments and can be extended up to two times (15 years each) after 2040, allowing it to continue for up to 45 years.

Ahn Cheol-soo, Director General of the Green City Bureau, stated, “We will continue to promote carbon neutrality policies that citizens can feel in their daily lives by reducing greenhouse gases through tree planting, and aim to establish Busan as a leading city in securing carbon credits.”