Enigin Update - Win-Win for Korean Big and Small Businesses on Energy Saving
KOREA has come up with an unusual way for big companies, such as the Hyundai Motor company, and small businesses to cooperate on energy efficiency and lower emissions.
The cooperation could be described as a financial and technological partnership system between big and small businesses with the aim of reducing greenhouse gas emissions. The Korean government will also provide 7 percent in tax credits for the funds donated by big corporation to help small companies save energy and reduce gases.
The Korean Ministry of Knowledge Economy are promoting green and win-win growth between small and big firms with the help of five greenhouse gas-emitting companies, including Hyundai Motor, and small companies.
Five large, energy hungry companies signed a Memorandum Of Understanding (MOU), for a Green Credit project with small partner firms. The project will enable the large corporations to provide funds for small companies to reduce greenhouse gas emissions through energy efficiency. In return the big companies will receive green credits for the reduction.
Through this programme the Ministry of Knowledge Economy forecast that if 278 big companies use green credits as 10 percent towards their required reduction amount, about one trillion Korean Won ($916 million) will thus be invested into small companies by the end of 2020.
Do Gyeong-hwan, head of the Energy Efficiency Group at the Ministry of Knowledge Economy, stated: “2011 is the first year of the obligatory system to decrease green house gas emissions. 378 companies in the industrial and power generation sectors are facing a new challenge of reducing greenhouse gases while minimising a decrease in productivity and an increase in costs.
“The signing of the MOU will serve as a big turning point for green growth, which helps both small and big firms reduce greenhouse gas emissions together.”
Enigin Distributors can help small and large companies with energy saving technology from Enigin, reducing utility bills through lowering energy demand, while maintaining production and services. Enigin Plc's solutions enable business leaders and owners to gain control of their energy use, leading to financial and environmental benefits.
Picture of Night view of Cheonggye stream in Seoul by Wtsay
