Finger announced on January 20 that it signed a ‘Memorandum of Agreement (MOA) for Clean Energy Development and Carbon Credit Commercialization in Laos’ with the Research Institute of Energy and Mining (RIEM) under the Ministry of Energy and Mining of the Lao Government and CTE Lao, a clean energy research company.
The company emphasized that Laos is a country that is greatly affected by climate change, and that the introduction of climate technology and international cooperation are essential for sustainable development, and that Korean companies can contribute to solving Laos’ climate problems based on advanced technology and development experience. This MOA was signed as the first step toward public-private cooperation and achieving a long-term vision.
Finger will work with RIEM and CTE Lao to promote clean energy development and carbon credit commercialization in Laos. Based on the MOA, it will launch the ‘solar power generation pilot project’ and jointly prepare for the Sustainable Development Mechanism (SDM) and the bilateral greenhouse gas reduction project and carbon credit business under Article 6.2 of the Paris Agreement.
Finger also plans to leverage blockchain technology to support the registration and commercialization of carbon credits, thereby strengthening its position in the global climate technology market.
Through this collaboration, Finger is expected to support sustainable development in Laos by utilizing various clean energies such as solar power generation, biogas, biomass, and energy storage systems (ESS), and contribute to international carbon neutrality efforts by securing carbon credits.
Finger plans to combine CTE Lao’s solar energy technology with RIEM’s local expertise to lay the foundation for expanding the commercialization of carbon credits in Laos, starting with a pilot project. Finger’s carbon credit platform, which uses blockchain technology, is expected to contribute to gaining international recognition for Laos’ carbon reduction efforts.
“Climate change response is one of the most important challenges of our time, and Finger believes that we can contribute to solving this problem through the convergence of technology and finance,” said Park Min-soo, Vice Chairman of Finger. “Based on Finger’s technological prowess and experience, we will actively support investment in and growth of climate technology companies.”
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