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Korea’s Carbon-Trading Systems Set for Testing Next Year

Nov 15, 2012
(Bloomberg Businessweek)

South Korea, the fastest-growing greenhouse-gas emitter among richer nations, plans to begin trials next year of its cap-and-trade system and will select an exchange in the first half, a top climate official said.

The country, which announced regulatory procedures this week for trading to start in 2015, is following the European Union’s model for emissions trading, Nam Kwang Hee, director general of the Presidential Committee on Green Growth, said in a phone interview. Still, South Korea will concentrate on domestic trading in the first phase and wait until 2018 before considering links with Europe and other countries, he said.