W Green Pay is issued to reward the general public’s contribution to reducing GHG (Greenhouse Gas) emissions under South Korea’s KETS (Korea’s Emissions Trading Scheme) market. KETS is the second largest in scale after the European Union Emission Trading Scheme. Following the Korean government’s pledge made at Copenhagen Accord in 2009, the country aims to reduce GHG emission by 37% by 2030.
W Green Pay will be the compensation method of HOOXI App to reward its users’ efforts in GHG reduction. W Exchange is expected to be the major trading platform for W Green Pay.
Advisers of W-Foundation support HOOXI Campaign for its shared goal with the Korean government and W-Foundation to promote environmental sustainability – a major component of the United Nations (UN)’ Sustainable Development Goals (SDGs) set as the 2030 Agenda.