SK Market: KAUs hit 30,000 won as buyers left with no choice but to pay up
The record-breaking trend in South Korea’s emissions market continued Tuesday with KAUs hitting 30,000 won ($24.59) for the first time as the wide gap between demand and supply kept pushing prices up.
Read MoreCARBON FORWARD 2019 – Stick or twist: investors came to the EU ETS, but will they go?
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Read MoreSK Market: KAUs set fresh record highs amid intense compliance demand
South Korea’s ETS prices surged 2.4% on Monday to close at fresh record highs, driven by frantic demand from emitters amid limited supply ahead of next month’s compliance deadline.
Read MoreSouth Korean firms sign major CDM deal in Bangladesh
Korea Midland Power and trading firm Ecoeye have signed a deal with subsidiaries of Bangadesh’s state-owned oil and gas firm PetroBangla to develop a CDM project that will generate some 1 million carbon credits annually for use in the South Korean emissions trading scheme.
Read MoreSK Market: Korean CO2 permits hit record highs amid supply shortage
South Korean CO2 allowances rose to all-time highs in Thursday trade as demand continued to outweigh the slow trickle of supply in a market deemed short overall, forcing emitters to consider borrowing from future allocation.
Read MoreSK Market: Korean CO2 auction clears below secondary market
South Korea sold all 550,000 carbon allowances on offer in its July auction held Wednesday, with permits clearing well below secondary market prices.
Read MoreBY THE NUMBERS: Data sheds light on unused CER supply, Kyoto unit trading
There remains more than 860 million unused CERs – a massive supply of offsets that could potentially be tapped by airlines to comply with ICAO’s CORSIA scheme or which could find its way into the Paris Agreement era.
Read MoreSK Market: Korean CO2 auction clears below market amid low interest
South Korea sold out all allowances on offer in Wednesday’s auction, but the sale cleared 1.3% below the secondary market as only five companies submitted bids.
Read MoreKorean firms eye Myanmar mangrove CDM project
South Korean state-owned power company KEPCO and trading firm Ecoeye are investing in a mangrove forest project in Myanmar that will be registered under the CDM and generate offsets eligible in the Korean emissions trading scheme.
Read MoreCarbon pricing schemes grow in numbers, but still too few and too cheap to meet Paris goals -report
The number of planned or implemented carbon pricing mechanisms worldwide has grown to 57, but without expanded coverage and higher prices they won’t be sufficient to help meet the temperature goals in the Paris Agreement, a World Bank report said Friday.
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