South Korea to launch emissions scheme
A ministry official said trading mainly among local municipalities will be done online next year, and from 2011 at Korea Exchange, the country's bourse.
The ministry has not yet decided its price for emissions per ton, she said.
A statement released from the ministry said the scheme will provide a base for the country's voluntary 2020 emissions reduction target. South Korea has pledged to cut emissions by 30 percent from its forecast under a "business as usual" scenario.
"The scheme is designed to meet the country's mid-term emission reduction target and connect with international carbon markets," the statement said.
South Korea, one of the world's fastest growing polluters, said in August it hopes to become Asia's trading hub for carbon emission certificates and related products under its plan for a new carbon exchange from 2011.
Related News
Why Atomic Energy Is Heating Up Again
ONTARIO - In recent years, nuclear power has experienced a remarkable revival in public interest, policy discussions, and energy investment. Once overshadowed by controversies surrounding safety, waste management, and high costs, nuclear energy is now being reexamined as a vital component of the global energy transition. Here's why nuclear power is "so hot" right now:
1. Climate Change Urgency
One of the most compelling reasons for the renewed interest in nuclear energy is the urgent need to address climate change. Unlike fossil fuels, nuclear power generates electricity with zero greenhouse gas emissions during operation. As countries rush to meet net-zero…
