Future Forest, GEC, and Gesia Platform signed MOU for carbon neutralization & snap into promoting LDN (Land Degradation Neutrality), CN (Carbon Neutrality) business.

Future Forest, GEC, and Gesia Platform announced that they agreed to enter into a strategic partnership for successful business cooperation and signed a memorandum of understanding on December 22. 

The ‘Future Earth Mechanism Project’ is an environmental fund preparing to establish under the United Nations Convention to Combat Desertification (UNCCD) to solve global environmental problems, especially land degradation, led by the UNCCD Land Ambassador Byung-hyeon Kwon, who serves as the Chairman of Future Forest. It is a project to build an industrial ecosystem based on the Land Degradation Neutrality (LDN) project and the Carbon Offset Credit(COC) acquired through it.

Future Forest was established with the approval of the Korean government on June 30, 2008, under the leadership of Chairman Byung-hyeon Kwon, who served as the first Korean ambassador to China. It has been working on projects such as prevention of desertification/yellow dust and supporting reforestation in North Korea. In particular, it has led the Mongolian desert reforestation project for nearly 20 years and achieved successful results. Furthermore, led the diplomatic cooperation projects in the East Asian region including agencies including Forest Service, Ministry of Foreign Affairs, and the Chinese government, gained a reputation as an organization that contributes to the prevention of global desertification. It launched Global Task Force afterwards and gained accreditation from the United Nations Environment Conference, and was officially designated as a non-governmental organization under the United Nations Environment Program(UNEP), and acquired observer status of the United Nations Framework Convention on Climate Change(UNFCCC) 

GEC was established with the approval of the Ministry of Trade, Industry and Energy for the purpose of industrializing carbon emission-related matters. Led by Won-woo Park, professor of Seoul National University Business School, who served as the president of the Korea Ethnical Management Association, it has many prominent people in politics, government, and industry joined as members of corporation. It plans to actively engage in industrialization related to LDN and COC in the future. 

Gesia Platform is developing a platform to build an economic ecosystem of voluntary COC. As of now, it is working to make ESG corporate management more transparent and efficient by making partnership with various domestic and foreign companies, and it plans to reveal a platform to induce voluntary participation of individuals in such activities in January. 

This business alliance will be an opportunity for Korea to lead the global carbon economy ecosystem with high future growth potential and expandability, and it is expected that it will be able to substantially contribute to the global environment through desirable cooperation with the UNCCD.