• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.223-231
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• 2020

This research aims to examine (1) the effect of carbon emission disclosure on firm value, (2) the effect of good corporate governance on firm value, (3) the mediating role of financial performance between carbon emission disclosure and firm value, and (4) the mediating role of financial performance between good corporate governance and firm value. The research sample includes 43 mining, agro, and manufacturing firms listed in the Indonesian Stock Exchange over the 2015-2017 period. Carbon emission disclosure is measured by an indicator of the Global Reporting Initiative Series of Environmental Aspect. Good corporate governance is measured by the corporate governance score of shareholder rights, boards of directors, outside directors, audit committee and internal auditor, and disclosure to investors. Financial performance is measured by return on assets, while firm value is measured by Tobin's Q. Data analysis uses the structural equation modeling. The result shows carbon emission disclosure and good corporate governance have no direct effect on firm value. On the other hand, financial performance mediates the effect of carbon emission disclosure and good corporate governance on firm value. It shows that higher carbon emission disclosure and good corporate governance are meaningless for the investor if they do not give any financial performance improvement.

• The Journal of Asian Finance, Economics and Business
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• 제8권1호
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• pp.123-133
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• 2021

This research aims to examine the effect of carbon emission disclosure on firm value and to reveal environmental performance and industrial type as the moderating variables. This study used 82 samples of companies listed on the Indonesia Stock Exchange (IDX) and receiving awards in the Indonesian Sustainability Reporting Award (ISRA) in 2014-2018. This study used a multiple linear regression analysis to test the hypotheses. The results showed that carbon emission disclosure had a positive and significant effect on firm value as carbon emission disclosure is a form of corporate concern on environment positively responded by the market and becomes the basis for investors to make their considerations in assessing the company sustainability. Besides, environmental performance and industrial type can strengthen the influence relationship of carbon emission disclosure on firm value since environmental performance was assessed based on ISO 14001 certification ensuring that the company has tried to preserve the environmental sustainability by creating a good environmental management system. Moreover, companies categorized into high profile industrial type have tried to change their unfavorable image and avoid lawsuits by performing carbon emission disclosure to gain positive responses from the market.

• 한국기후변화학회지
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• 제7권4호
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• pp.513-520
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• 2016

Korea's energy consumption has been constantly increasing. Final energy consumption was increased by an annual average of 2.9% compared to 2010. The consumption of all energy sources except for its oil was increased during the same time. While electric demand has increased coal consumption increased rapidly. Therefore, calorfic value and carbon emission factor development can improve the quality of Korea's greenhouse gas inventory. Calorific value is the amount of heat generated while burning coal. Caloric value is one of the most important factors in the development of carbon emission factors. Calorific value is used as the basis for the analysis of the various energy statistics. This study has calculated the other bituminous coal and coking coal's calorfic value by the data received from domestic coal-fired power plants and steel manufacturer. Calorofic value's trend analysis period is the year of 2010~2014. Through analyzing the carbon content it was calculated the carbon emission factor. The bituminous coal and coking coal's uncertainty analysis was performed using a Monte Carlo simulation.

• 한국기후변화학회지
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• 제8권2호
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• pp.145-151
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• 2017

Korea's energy consumption has been constantly increasing. Final energy consumption was increased by anannual average of 2.9% compared to 2010. The consumption of all energy sources except for its oil was increased during the same time. While electric demand has increased coal consumption increased rapidly. Therefore, calorfic value and carbon emission factor development can improve the quality of Korea's greenhouse gas inventory. Calorific value is the amount of heat generated while burning coal. Caloric value is one of the most important factors in the development of carbon emission factors. Calorific value is used as the basis for the analysis of the various energy statistics. This study has calculated the sub-bituminous coal's calorfic value by the data received from domestic coal-fired power plants. Calorofic value's trend analysis period is the year of 2011~2015. Through analyzing the carbon content it was calculated the carbon emission factor. The sub-bituminous coal's uncertainty analysis was performed using a Monte Carlo simulation.

• 한국응용과학기술학회지
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• 제34권4호
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• pp.1046-1057
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• 2017

국가 온실가스 인벤토리를 Tier 2 이상의 수준으로 향상시키기 위해서는 IPCC 기본값 대신 국가 고유의 배출계수가 개발 및 이용되어야 한다. 국가 고유 배출계수는 에너지원 종류, 에너지 공정, 시간 추세에 따라 달라지기 때문에, 각 에너지원별 특성값을 파악하는 것은 정확한 인벤토리 구축에 중요한 부분을 차지한다. 국내 석유계 에너지원의 물성은 시간의 경과에 따라 큰 변화는 없었으며, 국내에서 고시되고 있는 에너지원별 열량환산기준 상의 석유계 에너지원에 대한 열량 및 탄소배출계수를 2013년과 2016년에 실제 시료를 수집하여 발열량, 탄소함량 및 탄소배출계수를 산정한 결과값과의 비교분석에서는 대체적으로 일정한 값을 유지하고 있는 것으로 나타났다. 또한, 석유계 에너지원별로 산출된 순발열량과 탄소배출계수는 2006 IPCC Guideline에 나타낸 값들과 비교하였으며, 대부분의 에너지원이 2006 IPCC G/L의 기본값 및 상한, 하한 범위내의 값을 나타내었다.

• Journal of Korea Trade
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• 제25권2호
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• pp.58-74
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• 2021

Purpose - This paper research on the embodied carbon emission in Sino-Korea trade. It calculates and analyzes the carbon emission coefficient and specific carbon emissions in Sino-Korea trade from 2005 to 2014. Design/methodology - This paper conducted an empirical analysis for embodied carbon emission in Sino-Korea trade during the years 2005-2014, using a multi-region input-output model. First, direct and complete CO2 emission coefficient of the two countries were calculated and compared. On this basis, combined with the world input-output table, the annual import and export volume and sector volume of embodied carbon emission are determined. Then through the comparative analysis of the empirical results, the reasons for the carbon imbalance in Sino-Korea trade are clarified, and the corresponding suggestions are put forward according to the environmental protection policies being implemented by the two countries. Findings - The results show that South Korea is in the state of net trade export and net embodied carbon import. The carbon emission coefficient of most sectors in South Korea is lower than that of China. However, the reduction of carbon emission coefficient in China is significantly faster than that in South Korea in this decade. The change of Korea's complete CO2 emission coefficient shows that policy factors have a great impact on environmental protection. The proportion of intra industry trade between China and South Korea is relatively large and concentrated in mechanical and electrical products, chemical products, etc. These sectors generally have large carbon emissions, which need to be noticed by both countries. Originality/value - To the best knowledge of the authors, this study is the first attempt to research the embodied carbon emission of ten consecutive years in Sino-Korea Trade. In addition, In this paper, some mathematical methods are used to overcome the error problem caused by different statistical caliber in different databases. Finally, the accurate measurement of carbon level in bilateral trade will provide some reference for trade development and environmental protection.

• 한국대기환경학회지
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• 제30권4호
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• pp.301-310
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• 2014

Country-specific data for net calorific values and carbon emission factors requires for a higher tier estimate of greenhouse gas emissions in the energy sector. The objective of this study is to develop country-specific net calorific values and carbon emission factors for petroleum energy produced in Korea. Calorific values and carbon contents of the fuels were measured using the oxygen bomb calorimeter method and the CHN elemental analysis method, respectively. Sulfur and hydrogen contents, which were used to calculate the net calorific value, were also measured and then net calorific values and carbon emission factors were determined based on the measurement results. The net calorific values and carbon emission factors determined for the petroleum produced in Korea 2012 and 2013 were compared to those in the 2006 IPCC Guidelines. Most of the values were different compared with the default values of the 2006 IPCC Guidelines although those were placed within their upper and lower limits. Time series analysis results showed inconsistent seasonal variation for the net calorific values and carbon emission factors.

• 한국대기환경학회지
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• 제31권4호
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• pp.368-377
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• 2015

Bunker C fuel oil is a high-viscosity oil obtained from petroleum distillation as a residue. The sulfur content of bunker C fuel oil is limited to 4.0% or even lower to protect the environment. Because bunker C fuel oil is burned in a furnace or boiler for the generation of heat or used in an engine for the generation of power, carbon dioxide is emitted as a result of combustion. The objective of this study is to investigate $CO_2$ emission characteristics of bunker C fuel oil by sulfur contents. Calorific values and carbon contents of the fuels were measured using the oxygen bomb calorimeter method and the CHN elemental analysis method, respectively. Sulfur and hydrogen contents, which were used to calculate the net calorific value, were also measured and then net calorific values and $CO_2$ emission factors were determined. The results showed that hydrogen content increases and carbon content decreases by reducing sulfur contents for bunker C fuel oil with sulfur contents less than 1.0%. For sulfur contents between 1.0% and 4.0%, carbon content increases as sulfur content decreases but there is no evident variation in hydrogen content. Net calorific value increases by reducing sulfur contents. $CO_2$ emission factor, which is calculated by dividing carbon content by net calorific value, decreases as sulfur content decreases for bunker C fuel oil with sulfur contents less than 1.0% but it showed relatively constant values for sulfur contents between 1.0% and 4.0%.

• KIEAE Journal
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• 제8권4호
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• pp.19-27
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• 2008

The carbon dioxide is brought from the energy consumption and regarded as a criteria material to estimate the Global Warming Potential. Building shares about 30% in national energy consumption and affects to environment as much as the energy consumption. But there is not enough data to forecast the amount of the carbon dioxide during the maintenance stage. Various factors are related with the energy consumption and carbon dioxide emission such as the physical area, the building exterior area, the maintenance type and location. Among these factors, the building carbon-dioxide emission can be estimated by the overall building characteristics such as the maintenance area, the number of household, the heating type, etc., The physical amount such as the thickness of the insulation and window infiltration could explained the limited scope and might not be use to estimate the total carbon-dioxide emission energy because the each value could not include or represent the overall building. In this paper, it provided the estimation model of the carbon-dioxide emission, explained by the overall building characteristics. These factors are shown as the maintenance area, no. of household, the heating type, the volume of the building, the ratio of the window to wall area etc., For providing the estimation model of th carbon-dioxide emission, it conducted the corelation analysis to filter the variables and suggested the estimation model with the power model and multiple regression model. Most of the model have a good statistics and fitted in the curve line.

• 한국대기환경학회지
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• 제22권1호
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• pp.107-116
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• 2006

The main purpose of this study is to develop the greenhouse gas emission factor for power plant using bituminous coal. The power plant is a major source of greenhouse gases among the sectors of fossil fuel combustion, thus information of its emission factors is very essential to the establishment of control strategies for the greenhouse gas emissions. These emission factors derived in this study were compared with those of U. S. EPA, AGO and CCL. The $CO_{2}$ concentrations in the flue gas were measured using NDIR analyser and the GC-FID with a methanizer. The amount of carbon (C) and hydrogen (H) in fuel was measured using an elemental analyzer. Calorific values of fuel were also measured using a calorimeter. Caloric value of bituminous coal used in the power plants were 5,957 (as received basis), 6,591 (air-dried basis) and 6,960 kcal/kg (dry basis). Our estimates of carbon emission factors were lower than those of IPCC. The CO2 emission factors for the power plants using bituminous coal were estimated to be 0.791 Mg/MWh (by carbon contents and caloric value of the fuel) and 0.771 Mg/MWh (by $CO_{2}$ concentration of the flue gas). The $CO_{2}$ emission factors estimated in this study were $3.4\sim 5.4\%$ and $4.4\sim 6.7\%$ lower than those of CCL (2003) and U. S. EPA (2002).