Top

Global carbon market growth slowdown set to continue into 2023 -analysts

Published 12:22 on February 3, 2023  /  Last updated at 22:08 on February 3, 2023  /  Americas, China, EMEA, EU ETS, International, South Korea, US, Voluntary  /  No Comments

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 More
Top

South Korea moves up deadline for new ETS plan by a year

Published 08:39 on January 31, 2023  /  Last updated at 08:39 on January 31, 2023  /  Asia Pacific, South Korea  /  No Comments

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 More
Top

South Korea secures first government CDM deal in Uzbekistan

Published 03:19 on January 27, 2023  /  Last updated at 03:19 on January 27, 2023  /  Asia Pacific, Kyoto Mechanisms, Other APAC, Paris Article 6, South Korea, Voluntary  /  No Comments

South Korea has signed its first government contract to buy Clean Development Mechanism (CDM) carbon credits from a landfill gas project in Uzbekistan.

Read More
Top

VCM Report: Damning reports on REDD+ crush prices as buyers retreat

Published 19:38 on January 23, 2023  /  Last updated at 19:39 on January 23, 2023  /  Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, China, Mexico, Middle East, Nature-based, New Zealand, South Korea, Switzerland, US, Voluntary  /  No Comments

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 More
Top

Korea’s SK forms VCM partnership with UAE sovereign wealth fund

Published 10:34 on January 16, 2023  /  Last updated at 10:34 on January 16, 2023  /  Asia Pacific, EMEA, South Korea, Voluntary  /  No Comments

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 More
Top

SK Market: Korean auction clears below secondary market amid lacklustre demand

Published 10:04 on January 11, 2023  /  Last updated at 10:06 on January 11, 2023  /  Asia Pacific, South Korea  /  No Comments

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 More
Top

South Korea to fund CO2 cuts for ETS participants

Published 08:22 on January 9, 2023  /  Last updated at 08:22 on January 9, 2023  /  Asia Pacific, South Korea  /  No Comments

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 More
Top

SK Market: KAUs fall by over a fifth in first week of new year

Published 09:32 on January 6, 2023  /  Last updated at 09:32 on January 6, 2023  /  Asia Pacific, South Korea  /  No Comments

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 More
Top

South Korea to sell fewer carbon allowances in 2023

Published 09:32 on December 16, 2022  /  Last updated at 09:32 on December 16, 2022  /  Asia Pacific, South Korea  /  No Comments

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 More
Top

SK Market: Auction interest remains dim as lack of policy clarity sends KAU price crashing

Published 08:30 on December 14, 2022  /  Last updated at 08:30 on December 14, 2022  /  Asia Pacific, South Korea  /  No Comments

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.

Read More