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2024-08-31

On 8th August 2024, the Ministry of Oceans and Fisheries (MOF) signed an

implementation agreement with the Global Green Growth Institute (GGGI) in Sejong to

expand cooperation on international greenhouse gas reduction projects in the marine sector. 

In 2022, the two organizations agreed to collaborate on achieving national greenhouse gas

reduction targets (Nationally Determined Contributions, or NDCs). The newly signed

agreement aims to implement practical greenhouse gas reduction initiatives. Under the

agreement, the Ministry will allocate an annual contribution of $300,000 (approximately

412.8 million KRW) to fund the discovery and development of international reduction

projects in the marine and fisheries sector and strengthen the capacity of developing countries

to reduce greenhouse gases.

South Korea has pledged to reduce its greenhouse gas emissions by 40% from 2018 levels

by 2030, and approximately 13% (37.5 million tons) of this target is planned to ve achieved

through international reduction measures

Source:  https://www.impacton.net/news/articleView.html?idxno=12281