S. Korea offers incentives for large firms to help SMEs cut greenhouse gas emissions

South Korea’s large companies could receive subsidies and will be deemed to have reduced their emissions by helping small and medium-sized enterprises (SMEs) cut greenhouse gas emissions.

The Ministry of Environment will revise guidelines concerning the acknowledgment of greenhouse gas reduction performance, taking effect on Dec. 30 and Jan. 1, respectively.

The ministry noted that if companies build greenhouse gas emission-reducing facilities for SMEs, it would subsidize 50 to 70 percent of the project cost.

Even when businesses use electricity produced by waste heat, it would be deducted from its indirect emissions.

Businesses that are recycling plastic wastes or avoiding plastic waste incineration would also receive acknowledgment for the efforts in their record.