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SK Market: Auction cancellation fails to halt KAU slide

Published 12:11 on June 3, 2021  /  Last updated at 12:11 on June 3, 2021  /  Asia Pacific, South Korea  /  No Comments

Korean carbon allowances continued to fall in Thursday trade, hitting their lowest since Feb. 2016 despite the government abandoning plans to auction millions of permits next week.

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South Korea suspends 5.1 mln allowance auction as KAU price crashes

Published 09:14 on June 2, 2021  /  Last updated at 10:55 on June 3, 2021  /  Asia Pacific, South Korea  /  No Comments

South Korea on Wednesday announced it has cancelled plans to auction off 5.1 million CO2 permits next week with no plans to make those available before the June 30 annual compliance deadline, after the spot price in the secondary market has collapsed by nearly 20% in the past two days.

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EU emitters turn in nearly 1.6 bln Kyoto credits since 2008, as cheap ETS compliance option ends

Published 18:47 on May 25, 2021  /  Last updated at 21:02 on May 25, 2021  /  Africa, Americas, Asia Pacific, China, China's Offset Market, Climate Talks, EMEA, EU ETS, International, Kyoto Mechanisms, Mexico, Middle East, Other APAC, South & Central, South Korea, UK ETS  /  No Comments

Companies regulated by the EU ETS used almost 1.6 billion Kyoto Protocol offsets against their surrender obligations over the past 13 years, data published by the European Commission late Tuesday showed, as the window finally closed on this cheaper compliance option.

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World sees 18% increase in global carbon pricing revenue in 2020 -World Bank

Published 18:29 on May 25, 2021  /  Last updated at 20:24 on May 25, 2021  /  Americas, Asia Pacific, Australia, Aviation/CORSIA, Canada, Carbon Taxes, CBAM, China, China's National ETS, EMEA, EU ETS, International, Kyoto Mechanisms, Mexico, New Zealand, REDD, South & Central, South Korea, Switzerland, UK ETS, US, Voluntary Market  /  No Comments

Government revenue from global carbon pricing instruments swelled by almost a fifth last year as programmes largely withstood the impact of the coronavirus crisis, according to an annual report released Tuesday by the World Bank.

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COMMENT: Financing carbon dioxide removals – what role for ETS in the race to net zero?

Published 12:40 on May 18, 2021  /  Last updated at 12:40 on May 18, 2021  /  Americas, Asia Pacific, Canada, China's National ETS, Conversations, EMEA, EU ETS, International, New Market Mechanisms, New Zealand, REDD, South Korea, Switzerland, UK ETS, US, Views, Voluntary Market  /  No Comments

Carbon pricing and specifically emissions trading systems can play an important role in incentivising removals necessary for achieving Paris Agreement emissions targets, according to the ICAP Secretariat.

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South Korea falling behind on climate promises, should toughen ETS -report

Published 09:57 on May 17, 2021  /  Last updated at 09:57 on May 17, 2021  /  Asia Pacific, South Korea  /  No Comments

South Korea is lagging in its efforts to meet its 2030 NDC and its promise reach net zero emissions by mid-century, according to a report released Monday that also urged the government to slash allocation levels in its emissions trading scheme to drive a quicker decarbonisation of its energy sector.

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UK plans for in-person COP26 climate summit, explores COVID safeguards

Published 12:27 on May 14, 2021  /  Last updated at 21:13 on May 14, 2021  /  Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, Bavardage, Canada, China, Climate Talks, EMEA, EU ETS, International, Japan, Kyoto Mechanisms, Mexico, Middle East, New Market Mechanisms, New Zealand, Other APAC, REDD, Shipping, South & Central, South Korea, Switzerland, US, Voluntary Market  /  No Comments

The UK is planning on host the COP26 UN climate negotiations as an in-person summit in Glasgow in November and is considering various ways of ensuring protection against the coronavirus pandemic, the meeting’s president Alok Sharma said on Friday.

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SK Market: KAUs rebound, but remain frail as traders await news on market balance

Published 13:25 on May 6, 2021  /  Last updated at 04:05 on May 24, 2021  /  Asia Pacific, South Korea  /  No Comments

South Korean carbon allowances have rebounded 28% since hitting a 5-year low last month, though uncertainty is high in the market as the government has yet to announce the exact ETS emissions balance for 2020.

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New Paris climate pledges to help cut projected warming to 2.4C -scientists

Published 11:54 on May 4, 2021  /  Last updated at 11:54 on May 4, 2021  /  Africa, Americas, Asia Pacific, Australia, Canada, China, EMEA, International, Japan, Mexico, Middle East, New Zealand, Other APAC, South & Central, South Korea, US  /  No Comments

The new climate pledges announced during April’s US-led climate summit are projected to put the world on track for global warming of 2.4C above pre-industrial levels, a report published Tuesday showed, reflecting a drop from 2.6C previously but still far off the Paris Agreement’s 1.5-2C goals.

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Germany, Russia sign MoU to ship hydrogen via controversial gas pipeline

Published 18:28 on April 30, 2021  /  Last updated at 18:31 on April 30, 2021  /  Africa, Americas, Asia Pacific, Australia, China, EMEA, International, Middle East, New Zealand, South & Central, South Korea, Switzerland, US  /  No Comments

Germany and Russia have signed a €2 billion memorandum of understanding (MoU) to leverage the controversial gas pipeline Nord Stream 2 for the eventual distribution of hydrogen, even as the European Parliament called for the project to be halted due to rising tensions with Moscow.

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