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A Study on Policy Design Directions for Introducing a Korean Biodiversity Credit System

  • Journal of Environmental Impact Assessment
  • Abbr : J EIA
  • 2026, 35(3), pp.227~244
  • Publisher : Korean Society Of Environmental Impact Assessment
  • Research Area : Engineering > Environmental Engineering
  • Received : May 12, 2026
  • Accepted : June 2, 2026
  • Published : June 30, 2026

Jayoung Jeon ORD ID 1,  Who-Seung Lee ORD ID 1

1한국환경연구원

Accredited

ABSTRACT

This study examines the feasibility of introducing a biodiversity credit system in Korea and proposes policy infrastructure strategies in response to the growing global biodiversity crisis and nature-related financial risks. Biodiversity credits are market-based policy instruments that quantify the ecological value generated by conservation and restoration activities and convert it into verifiable units, underpinned by five core principles: additionality, durability, non-fungibility, scientific rigor, and equitable benefit-sharing. The study employs a comparative analytical framework composed of four dimensions—governance structure, the MRV (Measurement·Reporting·Verification) system, registry and trading infrastructure, and permanence period—to examine three representative international models: the regulatory mandatory model (UK Biodiversity Net Gain), the government-led voluntary market model (Australia’s Nature Repair Market), and the private-led hybrid model (Colombia’s Tebu and Habitat Banking). Small-scale private and non-profit models from New Zealand, Romania, and Honduras are additionally reviewed as supplementary cases. The analysis highlights four key implications: a hybrid configuration of mandatory and voluntary markets in governance structure; the combination of government-standardized methodologies and area-and-time-based quantification in MRV; the integration of public registries and blockchain-based registries in trading infrastructure; and a 30-year permanence guarantee as the prevailing international norm. Applying the same framework to Korean schemes—the Payment for Ecosystem Services (PES), the Natural Resource Cap System, the Korea Emissions Trading System (K-ETS), and the Recognition of Private Participation in Natural Environment Restoration Projects (effective March 2026)—reveals that while Korea possesses partial infrastructure, further institutional development is required across all four dimensions. The key gaps identified are the fragmented operation of existing schemes (governance structure), the absence of standardized baseline methodologies (MRV), the insufficient design of a dedicated registry (trading infrastructure), and the lack of long-term safeguards (permanence and durability). Based on these findings, the study proposes: (1) a science-based MRV system linked to the national natural environment survey under the Natural Environment Conservation Act; (2) a centralized registry and trading infrastructure building on the Natural Environment Restoration Support Center; (3) an independent governance structure separating administrative enforcement from scientific verification; (4) an initial demand creation strategy through linkage with existing mandatory schemes; and (5) a three-stage implementation roadmap consisting of legal foundation building, pilot project and methodology validation, and market function establishment.

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