It refers to a voluntary carbon market in which various entities such as companies, institutions, and organizations trade voluntarily achieved carbon reductions regardless of regulations and are recognized as reduction credits.

For companies, in order to achieve carbon neutrality, direct carbon reduction and institutional reduction measures by law are not enough, so it is essential to use certified carbon credits led by the private sector.

Case 1. Microsoft offsets carbon emissions by purchasing carbon-reduced performance (approximately 1.39 million tons) through forest restoration, etc. Case 2. Google offsets carbon emissions generated since the establishment of the company through the purchase of carbon reduction results (approximately 6.6 million tons) Case 3. Netflix offsets carbon emissions by purchasing carbon reduction results (approximately 1.5 million tons) generated by mangrove forest preservation, etc. Case 4. Delta alirlines offsets emissions by purchasing carbon reduction results (approximately 9 million tons) from renewable energy projects, etc.

The Korea Chamber of Commerce and Industry, which takes the lead in vitalizing private companies, has established a center for carbon reduction certification that evaluates and certifies carbon reduction activities to help companies achieve carbon neutrality. ① We provide carbon standard based on universal principles at the international level. Based on reliable principles and standards, we certify transparently with expertise. ② We support carbon reduction activities that promote carbon neutrality. It certifies the carbon reduction according to the development and sales of eco-friendly products, technologies, and services of the company. ③ We will promote the trading of carbon credits. We provide an online system to trade credits that can offset carbon emissions.

KCCI Center for Carbon Reduction Certification is based in Korea and located in the KCCI Building in downtown Seoul. Our postal address is 18F, 39 Sejong-daero, Jung-gu, Seoul 04513, Korea. Program Consultation is currently available in Korean, English and Japanese. For any Inquiries, please e-mail us at crcenter@korcham.net or call us at +82 (0)2-6050-3830~3832 in English, +82 (0)2-6050-3827 in Japanese/日本語 as well as in Korean/한국어 at +82 (0)2-6050-3827~3832. For Technical Support, contact us by e-mail at centero_admin@sk.com or by phone at +82 (0)2-6050-3288. Please note that, in all cases, we highly recommend you to contact us by e-mail for more effective communication.

It refers to the principles of standards, guidelines, and procedures created by the Korea Chamber of Commerce and Industry to quantitatively evaluate and certify a company's carbon reduction. The four basic principles are as follows. 1. Practicality: Has the source of carbon emissions been clearly identified? Is accurate Measuring-Reporting-Verifying (as known as M-R-V) possible according to the methodology? 2. Additionality: Were there any separate efforts to reduce carbon emissions? ① Reduction above the level required by laws/systems, etc. ② Reduction above the level generally required 3. Sustainability: Is the carbon reduction effect maintained? 4. Verifiability: Is the carbon reduction quantitatively verifiable? Was it reviewed by a competent third party auditor?

Carbon reduction progress projects carried out in accordance with approved methodologies in the internal/external areas of the corporate value chain to respond to climate change by domestic/overseas project discovery/implementation/operator companies since April 14, 2010 are applicable. It is evaluated according to the principles and procedures presented in KCCI Carbon standards and requirements.

It consists of a total of four requirements, including KCCI center operations, methodology, projects, and registry management. ① Carbon Reduction Certification Center Operations Requirements: Composition and operation procedures of each committee of the certification center, etc. ② Methodology management Requirements: methodology registration and application, review/approval, revision, etc. ③ Project management Requirements: Project approval, implementation and verification monitoring, etc. ④ Registry management Requirements: account application, suspension, closure, renewal, etc. on the online registry system for certified reductions as credits.

Regardless of regulations such as the Korea Emission Trading Scheme (K-ETS), all areas are subject to carbon reduction certification. [For Companies participating in K-ETS (Korea emission trading scheme)] : non-regulatory areas (Scope 3) excluding regulated areas (Scope 1, 2) [For other all companies] : All areas of the workplace

Carbon Reduction is made with the approval of the certification committee after third-party verification of the methodology, project, and monitoring report. In addition, unlike other institutions, the KCCI center can shorten the certification time by registering the methodology and business plan at the same time. [Step 1] Preparation of methodology and project : Project proponent prepares methodology and project. [Step 2] Third Party Validation : A third party auditor reviews the validity of the methodology and project. [Step 3] Suitability review : KCCI Center reviews the suitability of the methodology and project submitted by the project proponent. * Notification of results within 30 days after completion of submission and correction/supplementation, one time extension possible. [Step 4] Certification Committee Deliberation and Decision : The Certification Committee reviews the agenda and decides whether to approve registration. [Step 5] Creating a monitoring report : The project proponent prepares a monitoring report. [Step 6] Third Party Verification : A third party verification agency verifies the monitoring report. [Step 7] Conformity review : The KCCI Center reviews the adequacy of the monitoring and verification report submitted by the project proponent. * Notification of results within 30 days after completion of submission and correction/supplementation, one time extension possible. [Step 8] Certification Committee Deliberation/Decision : Certification Committee decides whether to approve or not through deliberation of the agenda.

It can be converted to KCS credit (KCR) through the application process and payment of fees. For more detail information, please contact us by email at crcenter@korcham.net

Carbon Reduction performance issued in accordance with the KCCI Carbon Standard (KCS) is issued as 1 KCCI Certified Reduction (KCR) per ton, and can be checked through the menu of "Methodologies & Projects" at http://kcs.centero.kr

There are 13 institutions recognized by Korean National Institute of Environmental Research. For more details, please refer to Resources-Announcements page.