Country:Korea
Year:2015
Policy status:In Force
Date Effective:2015
Policy Type:Economic Instruments>Market-based instruments
Policy Target:
Agency:Ministry of Environment
URL:http://eng.me.go.kr/
Description:

Domestic emission trading is a new economic instrument which can be effective, where the energy related tax is already high, such as in Korea. In order to integrate the policy objective of de-carbonisation, early introduction of domestic emission trading is being reviewed. In a first phase, the power market will conduct a demonstration project, based on the baseline matrix scheme, and in the next phase other industries like refinery, petrochemical, and steel by electric furnace will constitute a new carbon market. In the last phase, a general emission trading market will be established where the government itself participate as a buyer to absorb the credit offered by the renewable energy and ESCO (energy service company) projects.

Last modified: Thu, 02 Jun 2016 18:47:43 CEST