Chemical firm takes Korean CER cancellations above 14 million
South Korea’s Hu-Chems Fine Chemical Corp. this week converted 360,000 CERs into offsets eligible in the Korean ETS, taking the total number of Korean CER cancellations above 14 million.
Read MoreValue of world’s carbon pricing schemes edges up year-on-year while govt revenues drop -report
The combined value of the world’s carbon markets and CO2 tax regimes rose by 7% in 2017, with eight new pricing initiatives helping to nearly double the total number over the past five years, but government revenues have dropped by some 15%, according to a new report published Tuesday.
Read MoreCARBON FORWARD 2017: The agenda for this year’s event is taking shape…
Following the immense success of the inaugural Carbon Forward 2016 conference and training day, this year Carbon Forward 2017 will delve deeper into the issues affecting companies with exposure to the EU Emissions Trading System (ETS) and other carbon markets worldwide.
Read MoreAfter the money dries up, CDM project discontinuation risks vary drastically -study
Some CDM project types face considerably higher risks than others of being discontinued due to the disappearance of carbon offset revenues, a new study shows, threatening to raise CO2 emissions by roughly a billion tonnes in the developing world if the facilities are dismantled.
Read MoreSK Market: Prices edge up to hit 6-week high as companies prepare for compliance
Korean carbon allowances rose 0.25% on Thursday to reach a 6-week high as pre-compliance demand firms despite hopes that the government might release some volumes from the market stability reserve.
Read MoreSouth Korea’s new president moves to curb coal-fired generation
South Korea has ordered a temporary shutdown of eight old coal-fired power plants in an early move to set off newly elected President Moon Jae-in’s fight against air pollution that will also make a dent in the nation’s CO2 emissions.
Read MoreNew South Korean president seen as good news for climate, carbon market
The election of left-leaning liberal Moon Jae-in as South Korea’s new president is set to bring about a review of the nation’s coal expansion plans and could slow the process of loosening rules under its emissions trading scheme, according to experts.
Read MoreANALYSIS: In a rare glimpse of global carbon trade, Korea’s companies go hunting for foreign offsets
South Korean industry is making its first investments in foreign CDM projects to cut the costs of complying with the country’s emissions trading scheme, but a conservative approach expected from regulators means that demand is likely to be fairly limited.
Read MoreSK Market: Korea CO2 price unchanged for 2 weeks even as fresh supply appears
Korean CO2 allowance prices have remained unchanged for two weeks even as major supply sources have opened following the latest government interventions.
Read MoreSouth Korea, New Zealand open talks on joint carbon markets
South Korea and New Zealand have formed an Environmental Committee to discuss the development of emissions trading markets in the Asia-Pacific region, NZ Climate Change Minister Paula Bennett said Thursday.
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