WHAT WE DO    >    Reduction of GHG    >    International Mitigation Projects 

The term "international mitigation project” means a project for technology support, investment, purchase, etc. to attain the mitigation outcomes of greenhouse gas emissions pursuant to Article 35 (1) of Framework Act on Carbon Neutrality and Green Growth for Coping with Climate Change Crisis and Article 6 of the Paris Agreement.

• Framework Act on Carbon Neutrality and Green Growth for Coping with Climate Change Crisis Article 35 (Implementation of International Mitigation Projects)
• Enforcement Decree of the Framework Act on Carbon Neutrality and Green Growth for Coping with Climate Change Crisis
• Article 32 (Standards, Methods, and Procedures for Prior Approval of International Mitigation Projects)
• Article 33 (International Mitigation Council) 
• Article 34 (Reporting on International Mitigation Projects) 
• Article 35 (International Mitigation Register) 
• Article 36 (Reporting on Acquisition, Trading, and Extinction of International Mitigation Outcomes) 
• Article 37 (Prior Approval for Transfer of International Mitigation Outcomes) 
• Article 38 (Institution in Charge of International Mitigation Projects)
• Guidelines on Pre-Approval for International Reduction Projects and Acquisition of International Transferred Mitigation Outcomes

Propulsion system

International mitigation projects can be conducted for the following types of projects :

- Greenhouse gas reduction projects that have been approved in accordance with an agreement or an intergovernmental agreement equivalent to an agreement, which has been concluded with a foreign government for the purpose of jointly conducting international reduction projects pursuant to Article 6.2 of the Agreement 

- Greenhouse gas reduction projects that have been approved as projects for the purpose of obtaining greenhouse gas reduction outcomes from a supervisory body established in accordance with Article 6.4 of the Agreement 

- Other projects such as technology support, investment, purchase, etc. to attain the mitigation outcomes of greenhouse gas emissions in accordance with the Paris Agreement 

Article 6.2 of the Paris Agreement ensures the ‘Cooperative Approach’, which guarantees the autonomy of the participating countries. This approach allows countries to conduct greenhouse gas reduction projects based on intergovernmental agreements and voluntarily establish and operate bilateral and multilateral cooperation systems to secure reduction achievements. The procedures for the project, including Monitoring, Reporting, and Verification (MRV), are determined through autonomous consultation between the countries.

Corresponding Adjustment

According to Article 6.2 of Paris Agreement, the countries can issue, transfer, and use ‘Internationally Transferred Mitigation Outcomes (ITMOs)’ as part of their emission rights to achieve their NDCs. However, to prevent double counting that can occur during the international transfer of ITMOs, the cooperating countries must make a corresponding adjustment in strict calculation terms.

Corresponding adjustment is a regulation that prevents the same reduction result from being double-counted. The country that issued and transferred the reduced outcome adds the transferred amount to the national greenhouse gas emissions, and conversely, the country that acquired it for use in the NDC subtracts the used amount.