South Korea to hand ETS responsibility back to environment ministry
South Korea will hand the chief responsibility for its emissions trading scheme back to the Ministry of Environment (MoE), just 16 months after stripping the department of key ETS powers, a government official confirmed on Monday.
Read MoreSK Market: Government delay paralyses Korean CO2 market
Carbon prices in the South Korean emissions trading scheme have not moved for over a month as a delay of its Phase 2 allocation plan is holding back risk-adverse traders.
Read MoreSouth Korean plan to expand int’l offset eligibility in 2021 on track, but could feature limits
South Korea remains on track to broadly expanding the eligibility of international offsets in its emissions trading scheme from 2021, but the country could opt to bring in EU-style restrictions for some project types or countries, a senior government official told Carbon Pulse.
Read MoreSK Market: KAUs weaken as market settles in for long wait on allocation plan
South Korean carbon permits edged south for a second consecutive day Thursday but remained rangebound as a continued lack of information about next year’s allocation levels tempers supply.
Read MoreSouth Korea’s Phase 2 allocation plan, offset rules pushed to end of 2017
South Korea will launch a public consultation on its ETS 2018-2020 allocation plan and new offset guidelines in October, an official said Friday, commencing the process months later than originally planned.
Read MoreSK Market: Korean CO2 price shackled as market awaits news
South Korea’s CO2 price hasn’t budged for a month as the market awaits news on next year’s allocation and new offset rules.
Read MoreNew Zealand to auction CO2 allowances from 2020, seek limited links to international markets
New Zealand will introduce carbon allowance auctions and begin phasing out free allocation after 2020, while seeking limited linkages to other emission markets, in a bid to ramp up the efficiency of its ETS, the government announced Wednesday as part of its long-running review of the programme.
Read MoreCDM board alters fee system to address growing number of unclaimed CERs
The CDM’s Executive Board this week took steps to curb the increasing number of CERs that are sitting in UNFCCC ‘pending accounts’ awaiting payment of required issuance fees by their owners.
Read MorePermit extension casts doubt over South Korea plans to limit coal, CO2
South Korea has extended the construction period for two coal-fired power plant units, sowing doubt over new President Moon Jae-in’s intention to halt new coal plants while potentially adding tens of millions of tonnes of CO2 to the country’s emissions output.
Read MoreSK Market: Korean emitters cruise to compliance deadline as borrowing rules ease process
South Korean carbon allowances prices barely budged in the two weeks running up to Friday’s 2016 compliance deadline, as generous borrowing rules meant short companies had no need to buy last minute.
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