TASHKENT, Uzbekistan, September 28. South Korea selected Uzbekistan and Vietnam as partner countries to implement demonstration pilot projects to reduce greenhouse gas emissions, Trend reports.
The news followed a recent meeting between President of the South Korean Trade and Investment Promotion Agency (KOTRA) Yu Jeoung-yeol, Minister of Trade of Korea Ahn Duk-geun, Chairman of the South Korean Energy Agency (KEA) Lee Sang-hoon, as well as heads of companies and organizations that implement projects on gas emissions reduction.
In his welcoming speech, Ahn Dok-geun noted the importance of international cooperation in achieving zero greenhouse gas emissions at the global level, as well as the current policy of South Korea in the field of mitigation of greenhouse gas emissions and cooperation in this direction with partner countries.
The Minister expressed confidence in the successful implementation of these projects with the introduction of advanced technologies of Korean companies.
Other speakers of the event include President of South Korean Institute for Climate Change (KICC Inc.), which presented a $1.6 million pilot project in Uzbekistan to reduce greenhouse gas emissions.
The presented initiative will provide for reduction of greenhouse gas emissions by switching from conventional fuel to bio-pellets at a brick factory. President of KICC Inc. Shin Yong Won informed the participants that the company has started the production of bio-pellets based on licorice root production waste.
Within the framework of the project, which will be implemented within 10 years, it is planned to reduce greenhouse gas emissions in the equivalent of 10.74 thousand tons of carbon dioxide per year.
Earlier this year, World Bank (WB) allocated $46.25 million in the implementation of the project for reducing greenhouse gas emissions in Uzbekistan’s industry.
Moreover, in terms of funding, $2 million will be allocated for the development of a greenhouse gas registry and the creation of a monitoring, reporting, and verification system (MRV) in Uzbekistan.
As per taken measures, Uzbekistan plans to develop a database for the greenhouse gas registry and the MRV system on an online platform focused on supporting the green economy.