With environmental regulations continuously being strengthened internationally the need to control environmental pollution and environmental load is emerging in Korea. The purpose of this study is to seek methods or using waste cementitious powder as an alternative raw material for limestone through the optimization of raw material and to quantitatively analyze the resulting reduction of $CO_2$ emission in order to contribute to solving the issue of waste, which is the biggest issue in relation to construction and global warming. The results of the study, show that waste cementitious powder can be used as an alternative raw material for limestone at OPC level, but it was also found that mixing fine aggregate cementitious powder into waste cementitious powder significantly affected the substitution rate for limestone with waste cementitious powder and the reduction of greenhouse gas. In particular, when fine aggregate cementitious powder was used at a rate of 0~20%, the substitution rate for limestone and the reduction in the rate of greenhouse gas emission was significantly reduced. It is thought that a technique to efficiently separate and discharge the fine aggregate cementitious powder mixed in waste cementitious powder needs to be developed in the future.