Reduction Level Emission reduction by 37% from the BAU level by 2030 Coverage Economy-wide Sectors Energy, industrial processes and product use, agriculture and waste (A decision on whether to include land use, land-use change and forestry (LULUCF) will be made at a later stage. )Gases ï Carbon Dioxide (CO2 ) ï Methane (CH4 ) ï Nitrous Oxide (N2 O) ï Hydrofluorocarbons (HFCs) ï Perfluorocarbons (PFCs) ï Sulphur hexafluoride (SF6 ) Metric Global Warming Potential (GWP) values from the IPCC Second Assessment Report (1995) used to calculate CO2 equivalents Inventory Methodology ï Consistent with methodologies used in Koreaâs Biennial Update Report (BUR) submitted in December 2014 ï 1996 IPCC Guidelines used in general to calculate greenhouse gas emissions and sinks ï 2006 IPCC Guidelines used to calculate greenhouse gas emissions from rice cultivation in agriculture (4C) and other waste International Market Mechanism Korea will partly use carbon credits from international market mechanisms to achieve its 2030 mitigation target, in accordance with relevant rules and standards.