Analyzing awareness to promote private sector participation in REDD+ projects

The ongoing rise in global temperatures has led to rapid and widespread changes. In response, the international community is actively working to reduce greenhouse gas emissions, the main driver of global warming. Forests are increasingly recognized as crucial carbon sinks in these efforts. Furthermore, the Paris Agreement includes specific provisions for implementing and supporting REDD+ (Reducing Emissions from Deforestation and forest Degradation, and the role of conservation, sustainable management of forests, and enhancement of forest carbon stocks in developing countries), outlining detailed guidelines to aid in greenhouse gas reduction. The Republic of Korea has also set a goal of reducing 5 million tons of CO2eq by 2030 through REDD+ as part of its NDC target. However, achieving this goal solely through government-led initiatives is challenging, making it essential to engage the private sector in a variety of REDD+ projects and secure measurable reductions. This study analyzes current awareness by selecting survey respondents and structuring questions to encourage private sector participation in REDD+ initiatives. Findings indicate that most respondents demonstrate limited awareness of REDD+ and its related policies. Nonetheless, a significant number expressed positive consideration for participating in REDD+ projects, viewing them as valuable for achieving corporate emission reduction and carbon neutrality goals. Based on the findings on this study, it proposes policy elements that the government should supplement to promote private sector participation in REDD+. Efforts should focus on enhancing the dissemination of relevant information to improve the private sector's understanding of contributions to NDCs through REDD+. Additionally, short- and long-term support measures should be estabilished to assist the private sector in utilizing REDD+ results for NDC targets, including diverse participation models and financial support. The results of this study can serve as foundational data for developing support policies that address preferences for REDD+ participation options and barriers to private sector involvement.