Asia Pacific > South Korea abandons 2020 GHG target, puts ETS in new hands and lifts early action credit cap

South Korea abandons 2020 GHG target, puts ETS in new hands and lifts early action credit cap

Published 05:44 on February 26, 2016  /  Last updated at 12:05 on June 9, 2016  /  Asia Pacific, South Korea  /  No Comments

South Korea on Friday announced a raft of climate policy changes, including abandoning its GHG emissions target for 2020, stripping the Ministry of Environment of its responsibility for the emissions trading scheme, and lifting a cap on Early Action Credits that observers say could boost the market's supply by more than 40 million tonnes.

South Korea on Friday announced a raft of climate policy changes, including abandoning its GHG emissions target for 2020, stripping the Ministry of Environment of its responsibility for the emissions trading scheme, and lifting a cap on Early Action Credits that observers say could boost the market’s supply by more than 40 million tonnes.

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