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Japan, South Korea oppose move to bring global shipping to EU carbon market

Published 17:30 on November 26, 2020  /  Last updated at 17:30 on November 26, 2020  /  Asia Pacific, EMEA, EU ETS, International, Japan, Shipping, South Korea  /  No Comments

Japan and South Korea has voiced concerns over EU plans to extend the scope of its ETS to include emissions from all voyages using the 27-nation bloc’s ports, which the European Commission is considering as part of its carbon market reform.

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South Korea to again shut coal plants over winter to tackle pollution

Published 09:44 on November 26, 2020  /  Last updated at 09:45 on November 26, 2020  /  Asia Pacific, South Korea  /  No Comments

South Korea will close a number of coal-fired power plants during the winter months to reduce air pollution, the government announced Thursday, a move that will also mute demand for CO2 allowances in the nation’s emissions trading scheme.

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Audio recordings of Carbon Pulse’s side events at the ICAP-IETA Carbon Markets Virtual Pavilion

Published 16:46 on November 12, 2020  /  Last updated at 17:37 on November 12, 2020  /  Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, Bavardage, Canada, Carbon Taxes, CBAM, China, China's National ETS, China's Offset Market, China's Pilot Markets, Climate Talks, Conversations, Dialogue, EMEA, EU ETS, International, Japan, Kyoto Mechanisms, Mexico, Middle East, New Market Mechanisms, New Zealand, Newsletter, Other APAC, REDD, RINs & LCFS, Shipping, South & Central, South Korea, Switzerland, US, Views, Voluntary Market  /  No Comments

Here is a summary of Carbon Pulse’s free side events at this week’s IETA-ICAP Carbon Markets Virtual Pavilion, along with links to the audio recordings. (Video recordings not available to due to file size considerations)

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SK Market: Oversupply stunts interest at South Korea CO2 auction

Published 08:18 on November 11, 2020  /  Last updated at 23:28 on November 11, 2020  /  Asia Pacific, South Korea  /  No Comments

South Korea on Wednesday sold just over half the allowances on offer at its monthly KAU auction, with prices coming in well below secondary market levels as expectations about oversupply tamed interest.

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MARCU MY WORDS: The importance of the Article 6 Guidelines to the success of the Paris Agreement

Published 22:46 on November 4, 2020  /  Last updated at 22:46 on November 4, 2020  /  Asia Pacific, Aviation/CORSIA, Climate Talks, Dialogue, International, Japan, Kyoto Mechanisms, New Market Mechanisms, Other APAC, REDD, Shipping, South Korea, Views, Voluntary Market  /  No Comments

The absence of the Article 6 Guidelines creates uncertainty for the accounting treatment of assets in the emerging carbon market under the Paris Agreement as well as for other related markets. The importance of the international accounting treatment cannot be overstated.

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Analysts see limited upside potential for South Korean CO2 prices

Published 10:10 on November 4, 2020  /  Last updated at 02:19 on November 5, 2020  /  Asia Pacific, South Korea  /  No Comments

Korean CO2 allowance prices might move slightly up from current levels of 22,500 won ($19.70) during the 2020 compliance cycle, but will get nowhere near the highs seen in the first few months of this year amid sizeable oversupply, analysts said Wednesday.

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South Korea announces 2050 net zero emissions target

Published 04:08 on October 28, 2020  /  Last updated at 23:34 on October 28, 2020  /  Asia Pacific, Climate Talks, International, South Korea  /  No Comments

South Korea will bring its net greenhouse gas emissions to zero by 2050, President Moon Jae-in said Wednesday, following recent similar statements from neighbours China and Japan and spurring further momentum for climate action in the East Asia region.

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KEPCO to stop subsidising KAU purchases for power plants

Published 07:51 on October 23, 2020  /  Last updated at 09:52 on October 23, 2020  /  Asia Pacific, South Korea  /  No Comments

South Korea’s majority state-owned power company KEPCO will stop subsidising CO2 allowance purchases for power plants from next year, according to domestic media reports this week.

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SK Market: Steady demand puts KAUs on path to recovery

Published 10:36 on October 20, 2020  /  Last updated at 22:41 on October 20, 2020  /  Asia Pacific, South Korea  /  No Comments

South Korean CO2 allowances are recovering gradually amid steady demand, albeit in limited volumes and as regulatory uncertainties put a limit on available supply.

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SK Market: Korean monthly CO2 auction sells out for first time since April

Published 09:02 on October 14, 2020  /  Last updated at 01:33 on October 15, 2020  /  Asia Pacific, South Korea  /  No Comments

South Korea sold all 616,100 allowances on offer at Wednesday’s monthly carbon auction, the first time a sale has gone oversubscribed in half a year as KAU prices slowly recover after being slashed in half over the summer months.

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