LX International earns carbon credits in Indonesia

LX International, the trading arm of LX Group, said Thursday that the Indonesian government has recognized a hydropower plant it developed under the Paris Agreement, allowing it to trade the facility’s carbon credits independently. It marks the first time since the Paris Agreement took effect in 2016 that Indonesia has recognized a renewable energy project owned by a Korean company under the global climate accord. According to LX International, which owns Hasang Hydroelectric Power Plant in North Sumatra Province, the project was recently approved as an official carbon reduction initiative under Article 6.4 of the Paris Agreement. Article 6.4 establishes a United Nations-supervised carbon crediting mechanism under which a host country certifies emissions reductions achieved by a project and authorizes the transfer of corresponding credits to a buyer. The Hasang plant has a generation capacity of 41 megawatts and produces carbon-free electricity using falling water. The facility can supply power to approximately 150,000 households annually. LX International said the approval paves the waWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times