Global carbon market growth slowdown set to continue into 2023 -analysts
Uncertainty plagued the carbon markets in 2022 and will continue to do so in 2023, analysts said in a report published this week that identified how macroeconomic weakness, energy crises, and regulatory changes had caused a slowdown after several years of growth.
Read MoreSouth Korea moves up deadline for new ETS plan by a year
South Korea has moved the deadline for finalising the 4th basic plan for the national emissions trading scheme by a year in order to faster align the programme with its increased ambition under the Paris Agreement.
Read MoreSouth Korea secures first government CDM deal in Uzbekistan
South Korea has signed its first government contract to buy Clean Development Mechanism (CDM) carbon credits from a landfill gas project in Uzbekistan.
Read MoreVCM Report: Damning reports on REDD+ crush prices as buyers retreat
REDD+ avoided deforestation credit prices continued to sink over the past week in the wake of damning reports published in national newspapers about widespread over-crediting in the sector.
Read MoreKorea’s SK forms VCM partnership with UAE sovereign wealth fund
South Korea’s SK Group has agreed to form a partnership with Mubadala Investment, a sovereign wealth fund of the United Arab Emirates (UAE), to cooperate in voluntary carbon markets (VCM) in the Asian region.
Read MoreSK Market: Korean auction clears below secondary market amid lacklustre demand
South Korea sold just over 60% of the allowances on offer at Wednesday’s monthly carbon sale with the clearing price reaching a new low, as the current economic slump and allowance surplus continue to weigh on market sentiment.
Read MoreSouth Korea to fund CO2 cuts for ETS participants
South Korea’s environment ministry on Monday launched a call for proposals from ETS participants to apply for a total 138.8 billion won ($111.6 million) in government support for projects that will cut CO2 at their facilities.
Read MoreSK Market: KAUs fall by over a fifth in first week of new year
South Korean CO2 allowances lost a fifth of their value in the first week of 2023, as a glut of allowances and sluggish economic performance continued to weigh on sentiment despite government promises to improve market conditions.
Read MoreSouth Korea to sell fewer carbon allowances in 2023
South Korea will make a 20% cut in the number of CO2 allowances that will be available at auctions for ETS participants next year compared to 2022, after only being able to sell around half the KAUs it had planned to sell this year.
Read MoreSK Market: Auction interest remains dim as lack of policy clarity sends KAU price crashing
Only four companies participated at Wednesday’s monthly KAU auction, with the clearing price dropping to a record low as traders await clarity on when the Korean carbon market will be aligned with the nation’s increased ambition under the Paris Agreement.
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