South Korea increases CO2 allocation amid growth prospects for industry
South Korea on Wednesday released the allocation plan for the second phase of its emissions trading scheme, adding more than 30 million permits annually for industrials to support their short-term growth prospects.
Read MoreSouth Korea to make deeper CO2 cuts at home, scales down plans to buy international offsets
South Korea on Thursday released a revised 2030 roadmap for meeting its Paris obligations, scaling back the amount of international carbon credits it plans to buy and instead imposing tougher emission reduction goals on domestic industry.
Read MoreSK Market: KAUs rise to 3-week high as compliance demand remains
South Korean CO2 allowances rose to a 3-week high on Monday as demand lingered ahead of the June 30 compliance deadline.
Read MoreSouth Korean firms ink PoA deal as country eyes new CDM projects following carbon market rule change
Three South Korean firms have signed a preliminary agreement to invest in a cookstove PoA, as investors and participants in the country’s emissions trading scheme dip their toes back into the CDM market after the government earlier this year made some UN-issued carbon credits eligible for compliance use.
Read MoreUndersubscribed South Korean carbon auction settles at discount
South Korea’s June 1 CO2 permit auction sold 85% of the allowances on offer, settling at a 2% discount to the secondary market, according to a government official on Monday.
Read MoreSK Market: Korean carbon extends losses even as demand remains strong
South Korean CO2 permits lost another 2.25% on Friday to hit their lowest levels since January, even as volumes remained far above average levels as emitters race to meet the June 30 compliance deadline.
Read MoreSK Market: KAUs extend losses as swaps take edge off demand
South Korean carbon allowances lost another 2% on Thursday as last week’s government auction and a large amount of swap deals have taken some of the edge off compliance demand, which has been estimated to be as high as 30 million.
Read MoreSK Market: KAUs drift further as supply finally emerges
South Korean carbon allowances drifted further on Tuesday as emitters picked up nearly a million KAUs coming to market ahead of a deadline for banking units.
Read MoreSK Market: KAUs weaken as market digests unclear auction information
South Korean carbon allowances weakened slightly on Monday as the government failed to release outright results from Friday’s auction, leaving traders uncertain how to respond.
Read MoreSK Market: KAUs slide further but volumes soar as govt auction tempers market
South Korean allowances slipped further on Friday as the government’s auction announcement took some of the edge off the demand rush that had seen prices hit fresh six-month highs earlier this week.
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