South Korea should consider additional carbon trading scheme for regions, researchers say

Published 09:33 on May 22, 2024  /  Last updated at 09:33 on May 22, 2024  / Chia-Erh Kuo /  Asia Pacific, South Korea

South Korea should consider more policy arrangements for domestic cities to utilise carbon market mechanisms, such as the creation of a regional carbon trading framework, to drive down emissions from the urban sector, researchers have suggested.

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Carbon pricing proves its worth in reducing emissions, global meta-study shows

Published 04:57 on May 17, 2024  /  Last updated at 04:57 on May 17, 2024  /  Americas, Asia Pacific, Australia, Canada, Carbon Taxes, China, EMEA, EU ETS, International, Japan, South Korea, Switzerland, UK ETS, US

Carbon pricing schemes, such as taxes and cap-and-trade systems, are significantly reducing global greenhouse gas emissions, a new meta-study has found, though the results vary widely depending on the policy’s design and implementation.

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Cambodia launches APAC-focused initiative to promote carbon policy collaboration

Published 03:22 on May 17, 2024  /  Last updated at 03:47 on May 17, 2024  / Chia-Erh Kuo /  Asia Pacific, Other APAC, South Korea, Voluntary

Cambodia’s environment ministry has teamed up with a Korean non-profit to launch an APAC-focused initiative, in a bid to encourage collaboration on emissions rights across the region.

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Indonesia expands CCS plans with US, Korean oil giants

Published 10:48 on May 15, 2024  /  Last updated at 10:48 on May 15, 2024  / Helen Clark /  Asia Pacific, International, Other APAC, South Korea

Indonesia is expanding its carbon capture and storage (CCS) plans after its state oil company signed an agreement with US oil giant ExxonMobil and South Korea’s KNOC, while the former two also signed another agreement to develop a CCS ‘hub’ in the Sunda and Asri basins.

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South Korea plans blue carbon trading system -minister

Published 09:34 on May 13, 2024  /  Last updated at 09:50 on May 13, 2024  / Chia-Erh Kuo /  Asia Pacific, Nature-based, South Korea, Voluntary

The government of South Korea has proposed to launch a trading programme exclusively for blue carbon, following a national strategy aimed at improving the marine sector’s carbon sequestration capacity.

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UPDATE – SK Market: South Korean low-volume CO2 auction sells out, though market sentiment remains negative

Published 05:09 on May 9, 2024  /  Last updated at 10:41 on May 9, 2024  / Chia-Erh Kuo /  Asia Pacific, South Korea

South Korea’s monthly CO2 permit auction on Thursday was oversubscribed, though the auctioned volume remains significantly lower than those offered in the previous events amid sluggish demand in the secondary market.

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2023 hailed as a possible turning point for clean power, as renewables surpass 30% of global generation

Published 00:01 on May 8, 2024  /  Last updated at 14:50 on May 7, 2024  / Rebecca Gualandi /  Africa, Americas, Australia, Canada, China, Climate Talks, EMEA, EU ETS, International, Japan, Mexico, South Korea, Switzerland, UK ETS, US

Solar and wind growth has propelled the world past 30% renewable electricity for the first time in 2023, marking a turning point in the shift away from fossil fuel power, according to a review of country-level data published on Wednesday.

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South Korea to consider carbon credit-linked loan product

Published 09:51 on May 7, 2024  /  Last updated at 09:51 on May 7, 2024  / Chia-Erh Kuo /  Asia Pacific, South Korea

Government agencies in South Korea will start a discussion around a carbon finance product that allows companies to repay loans with carbon credits, according to local media reports.

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VCM Report: Bad headlines abound, but voluntary carbon prices little changed

Published 17:10 on May 6, 2024  /  Last updated at 11:32 on May 7, 2024  / Paddy Gourlay /  Africa, Americas, Asia Pacific, Australia, Aviation/CORSIA, China, EMEA, International, Japan, Mexico, Middle East, Nature-based, New Zealand, South Korea, Switzerland, US, Voluntary

Headlines in the trade press about the troubles of Rimba Raya in Indonesia were over-shadowed last week by a BBC investigative programme that exposed many criticisms of individual REDD projects to the general public, while also questioning the efficacy of voluntary efforts in general to the net zero cause, though prices saw little change.

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BRIEFING: Packed election year risks silencing discussions on climate, say former UN leaders

Published 18:30 on May 3, 2024  /  Last updated at 18:30 on May 3, 2024  / Bryony Collins /  Africa, Americas, Asia Pacific, Australia, Canada, Carbon Taxes, Climate Talks, EMEA, International, Middle East, South Korea, US

Two former UN leaders highlighted the world risks losing sight of the urgency to tackle climate change over this packed election year, with conflicts and short-termism taking political priority, during an event in London on Friday.

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