Korea East-West Power (EWP) and Korea Land and Housing Corporation (LH) have joined forces to cope with climate change by striking an MOU on the implementing of a greenhouse gas emission reduction project linked to the improving of a housing environment in Pakistan.
Both companies held a ceremony to sign an MOU at LH’s Gyeonggi Southern Regional Headquarters in Seongnam, Gyeonggi-do, on April 7 with Senior Executive Vice President Lee Young-chan, head of the Business Division at EWP, and Park Dong-sun, chief of the Balanced Regional Development Division at LH, in attendance.
The greenhouse gas emission reduction project linked to the improving of a housing environment in Pakistan is part of the Clean Development Mechanism (CDM), which obtained the nod from the government.
Under the project, the two companies can secure certified emission reduction (CER) credits, equivalent to about 1.26 tons of carbon for 10 years, by offering a clean drinking water and a sound environment with less greenhouse gas emissions to residents in Karachi, one of the largest cities in Pakistan.
The CDM allows emission-reduction projects in developing countries to earn CER credits, each equivalent to one ton of CO2.
These CERs can be traded and sold, and used by industrialized countries to meet a part of their emission reduction targets under the Kyoto Protocol.
EWP and LH plans to produce and supply low-emissions bricks for repairing old houses, install purification facilities and supply drinking water, install and replace high-efficiency street lights and build parks using idle land plots so residents in Karachi can lead a life in a safe and economical environment.
Senior Executive Vice President Lee, head of the Business Division at EWP, said, “Combining LH’s mainstay housing environment business knowhow and EWP’s overseas CER credit business expertise is expected to have synergetic effects, and EWP will concentrate its all capabilities to contribute to achieving Korea’s national determined contribution goals.”
EWP Declares ‘Bigger Future through Communization and Integration’
Korea East-West Power (EWP), celebrating the 22nd anniversary, is embarking on efforts to make a leap forward by declaring “EWP Preparing a Bigger Future” through Communication and Integration.
EWP held a ceremony to mark the 22nd anniversary of its founding at EWP headquarters in Ulsan with all staff in attendance.
All employees at business worksites, including those in Dangjin, Ulsan, Donghae, Ilsan, Eumseong, Shinhonam, Renewable Development Headquarters, participated in the event over EWP’s YouTube channel.
Prior to the event, management and the head of its trade union vowed to put into practice their determination to achieve carbon neutrality by setting up an upcycled tree at the front yard of EWP headquarters.
The anniversary event comprised of an awards ceremony, an anniversary ceremony, watching interview videos by executives and staffers of diverse generations, ] communicating with coworkers and cooperative company officials, and showing a web drama designed to build consensus on corporate culture innovation.
In his commemorative speech, EWP President Kim Young-moon stressed corporate culture innovation, technology innovation, safety and shared growth. President Kim said best solutions can be found through a process in which many people assemble and discuss, not excellent individuals in order to create a flexible corporate environment.
He called for all 2,500 staff members to become leaders of corporate culture innovation to nimbly cope with the rapidly changing energy market and lead energy transition, the task of the times.
EWP made remarkable achievements last year. Among the achievements were EWP having proved to have a differentiated competitive edge by becoming the sole public entity to be awarded with an “S” grade in an management evaluation of public enterprises for last year, logging 105.7 billion won in net profit, ranking first among power companies in terms of total power generation capacity, including photovoltaic power, wind power and hydrogen fuel cell for three years in row.
Minute dust was reduced by 58.8 percent compared to 2018 levels, launching the planned Eumseong Natural Gas Power Plant, the nation’s first energy transition unit, and obtaining the highest safety management grade for the third consecutive year.
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