Carbon credits are the right to emit greenhouse gases that cause and contribute to global warming. Companies are allocated these credits and are obligated to use greenhouse gases within their allocation, with any surplus or shortfall traded on the market in order to fulfill net-zero. While carbon credits are being actively discussed and used overseas, they are not yet widely discussed or used in Korea. However, there is one startup that is trying to expand carbon credits domestically through various projects, campaign support, and technology development. Thanks Carbon is creating a world where businesses and individuals alike can participate in carbon reduction. Monthly PowerKorea sat down with CEO Haewon Kim and learned the story.

▲ Thanks Carbon / CEO Haewon Kim

Sending back the carbon into the ground

Taking the lead in carbon reduction technologies

Thanks Carbon is a climate startup working to restore biodiversity and accelerate carbon neutrality by rapidly and creatively addressing climate change through the planning, development, and implementation of greenhouse gas reduction solutions. The goal of Thanks Carbon is to get the carbon back to where it belongs. CEO Kim explains “Carbon is supposed to be in the ground, but there’s too much of it in the atmosphere and it’s causing problems, so we need to get it back into the ground.” Once emitted, carbon doesn’t disappear; it accumulates in the atmosphere. Even if we try not to emit carbon, the carbon that has already been emitted does not disappear by itself, and activities are needed to sequester or absorb it. Thanks Carbon is planning and developing various solutions for this purpose.

One such technology is the MRV system, which enables real-time monitoring of GHG emissions from carbon sinks. GHG MRV (Measuring, Reporting, Verifying) systems are an essential foundation for organizations to efficiently respond to energy and carbon regulations. As a system that measures and provides carbon-related energy, efficiency, and information, Thanks Carbon strives to ensure that the data is complete and flawless by allowing users to see greenhouse gases from carbon sinks in real time.

Based on this data, Thanks Carbon provides ESG/CSR solutions to companies and organizations preparing for net-zero and develops and executes materials and campaigns that can contribute to carbon neutrality. These campaigns make full use of Industry 4.0 elements such as metaverses and NFTs to maximize customer and citizen engagement. In addition, the company is helping anyone initiate or sponsor a carbon reduction project through its brokerage services, and is pioneering the development of technology to help people earn carbon credit-based rewards.

Carbon reduction for agriculture

CoolMee, the rice that makes the Earth cool

Thanks Carbon has turned to agriculture for carbon reduction. Emitted carbon needs to be put back into the ground, and agricultural land is the only area where humans can control how much carbon is absorbed. 

Thanks Carbon co-founder and CSO Dubeong Park says “I was interested in agriculture and learned about regenerative agriculture in the United States. Just as electric vehicles are replacing internal combustion vehicles, conventional agriculture is also shifting to regenerative agriculture, which is happening overseas in Australia and elsewhere, so we thought we would change agriculture to carbon agriculture.” To this end, Thanks Carbon has been filming mini-documentaries with farmers across the country who have been practicing natural farming, launching weekend farm campaigns, etc., while also developing technology and patenting farm information management that includes remote methane measurement. September 2022, Thanks Carbon launched CoolMee, the rice that makes the Earth cool. The food sector is responsible for 30% of all carbon emissions. In particular, methane emissions from rice cultivation account for 51.2%. However, by applying rice field management technology, 3.43 tons per hectare can be reduced, making rice cultivation net-zero. As a result, CoolMee is a rice grown with various carbon reduction technologies. CEO Kim says that we can reduce about 40% carbon by using the method they developed.

When a company or organization uses CoolMee to run its cafeteria, it saves 28.8% of agricultural water and contributes to win-win management as well as sustainable development goals. It is estimated that a company with 1,000 employees using CoolMee for 10 years could save 330 tons of carbon. While preparing a project for ‘Biodiversity’, Thanks Carbon is striving for a world where everyone participates in carbon reduction through energy welfare projects in the Hwaseong area.

Thanks Carbon is expanding beyond Korea to Asia to drive agricultural transformation in each country. On May 19, at the Global Net Zero Connection in Asia, hosted by KOTRA in Hanoi, Vietnam, the company presented its MRV service for methane reduction in rice farming in Asia as a representative of a domestic company, and continued collaboration discussions with environmental officials and companies in each country. Asian countries are the world’s largest rice producers, and as such, they have high methane emissions and are looking to implement GHG reductions by applying agricultural water management (AWD). The company’s role is to provide MRV services to certify farmers’ emissions reductions, gather companies to invest in credits, and scale agricultural transformation.

Thanks Carbon is implementing various projects to preserve biodiversity. This year, the company took a big step toward changing the marine environment by launching the Zalfish Habitat Restoration and Research Project with LG Chem, Hope Friend Hunger Response, Korea Fisheries Resources Corporation, and Yeosu City. The project, which will run for four years from this year to 26, will plant and manage zalpies, a type of seaweed, off the coast of Yeosu, contributing to carbon absorption and creating an environment for marine life. The zalpie colony is expected to expand to 10 hectares, the size of 14 soccer fields, in four years. The company created a map called Blue Forest on ZEPETO, a metaverse platform used by teens and 20s, and opened it on June 7. On July 7, the cumulative number of visitors exceeded 1,100,000. Users can plant seaweed and remove trash from the ocean, and experience the problems of the marine environment in a natural way. Thanks Carbon commercializes MRV services for agricultural transformation through its own technology development, and implements various projects for carbon reduction and biodiversity conservation for ESG-managed companies. The company provides concrete solutions for companies, organizations, and citizens to move toward carbon neutrality together.