Abstract
A greenhouse gas emission reduction effect of “Low-Carbon Products” which are the second scheme of Korean carbon footprint labeling has been analyzed from 2011 to 2015 in this study. The reduction effect is calculated by subtracting the low carbon product from the first carbon emission which shows the reduced emission value of product and then multiplying by the sales of the products. The total number of the low-carbon products is 231 and its estimated reducing GHG effect totals 3.44 Mt CO2-eq. This equals to an annual absorption of approximately 520 million 30 year old pine trees and an annual emission of about 1.43 million vehicles. In addition, it is evaluated that the cost effectiveness of a low carbon product labeling program is more than 50 times than that of carbon trading schemes in Korea. Both the government and companies should develope and apply various policies to invigorate the program of low carbon products.
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