Analysts see further upside to Korean CO2 price
South Korean carbon allowances are valued near all-time high levels, but prices could move up further in the short term as a lack of available supply continues in the market, analysts said Monday.
Read MoreSK Market: KAUs rise to 8-mth high on strong auction
South Korean carbon permits traded up to their highest prices since last June on Thursday on the back of a strong auction that cleared almost 6% above the secondary market.
Read MoreSK Market: KAU auction clears 2% above secondary market
Wednesday’s South Korean CO2 auction sold out, with the clearing price coming in 2% above the secondary market and reflecting a supply dearth.
Read MoreSouth Korea to hold first regular CO2 auction
The Korea Exchange will on Wednesday hold the nation’s first regular carbon allowance auction, a new feature as the market shifts from full free allocation.
Read MoreKorean developers push on with CDM projects despite potential UN restrictions
South Korean project developers continue to identify and launch new CDM projects for use in the domestic ETS despite lingering uncertainty over the mechanism’s future and their government being outmanoeuvred at UN climate talks.
Read MoreGlobal CO2 trading volume spikes 45% in 2018, value soars 250% amid reforms -analysts
Global traded carbon volumes rose 45% in 2018 to a five-year high of 9.1 billion tonnes as the dominant EU ETS market notched stellar price gains, Refinitiv analysts said in an annual market review on Tuesday.
Read MoreCOP24: South Korea plans ETS changes to boost liquidity
South Korea is planning a number of amendments to trading rules for its emissions trading scheme in a bid to improve market liquidity and make the programme more effective.
Read MoreHopes fade for progress on a CDM transition this year
Governments are not expected to offer much clarity on how the CDM will transition into the post-2020 Paris Agreement era as year-end UN talks in Katowice get bogged down in other issues, observers say.
Read MoreAnalysts see potential upside for Korean CO2 price as emissions rise
South Korean carbon prices are at their highest since July but could go even higher as rising emissions in some of the biggest ETS sectors are set to further deplete available supply in the market, according to analysts.
Read MoreSouth Korea curbs fossil fuel output to battle pollution
South Korea on Wednesday for the first time ordered selected coal- and oil-fired plants to briefly cut output in a bid to reduce air pollution – a move set to become a more regular occurrence impacting CO2 levels next year when the government imposes mandatory rules.
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