BRIEFING: South Korea to revamp process for buying Article 6 carbon credits
South Korea is seeking to build an intergovernmental cooperation model and expand support for international emissions reduction projects, as current progress is seen as insufficient for the East Asian country to secure enough carbon credits to meet its 2030 climate target, according to policy documents published Wednesday.
Read MoreSouth Korea targets 70% carbon-free electricity by 2038
South Korea plans to generate more than 70% of its electricity from carbon-free sources by 2038, according to its latest basic energy policy that will guide the development of power generation sectors in coming years.
Read MoreSouth Korea strengthens support for SMEs to grapple with CBAM
South Korea has issued a public call exclusively for domestic small and medium-sized enterprises (SMEs) to help them meet emissions reporting and verification requirements, as the implementation of the EU’s carbon border adjustment mechanism (CBAM) draws near.
Read MoreAsian developer weighs Article 6 route for Uzbek methane reduction project
A Seoul-based developer is eyeing Article 6 status for a methane reduction project in Uzbekistan claiming to reduce emissions by 7 million tonnes of CO2 annually, the company told Carbon Pulse.
Read MoreANALYSIS: South Korea sees clearer ETS trajectory with 10-year roadmap, but oversupply issue may linger
South Korea’s latest roadmap for its domestic emissions trading scheme offers a glimpse of how the government plans to operate the market, though participants are still awaiting more policy updates to address persisting oversupply.
Read MoreSK Market: Monthly carbon auction cancelled as spot market remains bearish
South Korea has cancelled this month’s carbon permit auction, as activity in the national emissions market remains relatively slow.
Read MoreBRIEFING: Global carbon market traded volume surges in 2024, valuation remains flat -analysts
Global carbon markets saw their value marginally rise to above €800 billion in 2024, according to annual research published by analysts, while traded volume jumped by almost 25% year-on-year amid buoyant activity across nearly all systems.
Read MoreSouth Korea commits $89 mln for technologies to achieve carbon neutrality
South Korea’s trade ministry has pledged to spend 129.3 billion won ($89 million) this year to support R&D projects in the energy sector that will help the country achieve carbon neutrality and ensure a stable supply of energy.
Read MoreS. Korean shipbuilder to develop ammonia gas turbine, targets carbon-free shipping
A shipbuilding major in South Korea has secured partnerships to develop what it claims to be the world’s first carbon-free propulsion system for ships.
Read MoreCarbon Pulse launches new Article 6 Portal
In another step towards a more comprehensive data offering, Carbon Pulse has launched a free-access Article 6 Portal tracking international carbon market developments under the Paris Agreement.
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