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UN launches $70 trillion alliance to standardise net zero commitments around science-based targets

Published 22:33 on April 21, 2021  /  Last updated at 22:34 on April 21, 2021  /  Africa, Americas, Asia Pacific, Australia, Canada, China, Climate Talks, EMEA, International, Japan, New Zealand, South & Central, South Korea, Switzerland, US  /  No Comments

UN climate envoy Mark Carney and a dozen government and financial leaders on Wednesday unveiled an alliance to coordinate standards and practices for net zero commitments worldwide in the lead-up this fall’s COP26 climate summit. 

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SK Market: KAUs claw back lost ground as new demand enters market

Published 08:23 on April 21, 2021  /  Last updated at 08:23 on April 21, 2021  /  Asia Pacific, South Korea  /  No Comments

South Korean emissions allowances notched a fifth consecutive session of gains Wednesday, as the temporary price floor and fresh demand pushed prices to a two-week high.

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South Korea sets temporary ETS price floor

Published 08:05 on April 16, 2021  /  Last updated at 09:53 on April 16, 2021  /  Asia Pacific, South Korea  /  No Comments

South Korea will from Monday introduce a temporary minimum price in its emissions trading scheme, to halt declining price levels that have seen KAUs drop to 5-year lows, the environment ministry announced Friday.

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South Korea posts 6% drop in carbon market emissions in 2020

Published 09:00 on April 15, 2021  /  Last updated at 09:00 on April 15, 2021  /  Asia Pacific, South Korea  /  No Comments

Participants in South Korea’s emissions trading scheme emitted 6% less CO2 in 2020 than in the previous year, according to the environment ministry, which said it likely would take further measures to address weak demand and plummeting KAU prices.

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South Korea postpones carbon auctions until June

Published 09:20 on April 14, 2021  /  Last updated at 09:21 on April 14, 2021  /  Asia Pacific, South Korea  /  No Comments

South Korea has postponed its scheduled CO2 allowance auctions for April and May amid the lowest secondary market KAU prices in more than five years, shifting the volume to the June sale just weeks ahead of the annual compliance deadline.

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Carbon tax can put dent in Asia-Pacific emissions, IMF says

Published 10:51 on April 13, 2021  /  Last updated at 10:51 on April 13, 2021  /  Asia Pacific, Australia, Carbon Taxes, China, International, Japan, New Zealand, Other APAC, South Korea  /  No Comments

A carbon tax of $25/tonne could put a significant dent in Asia-Pacific greenhouse gas emissions, but would have to be raised to three times that level to be in line with a 2C or lower global warming target, according to the International Monetary Fund (IMF).

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SK Market: KAUs stoop to 5-yr low as cancellation concerns diminish value

Published 08:36 on April 12, 2021  /  Last updated at 08:36 on April 12, 2021  /  Asia Pacific, South Korea  /  No Comments

South Korean carbon allowances fell to their lowest levels in more than five years in Monday trade as prospects of having to cancel millions of units due to the oversupply weighed on sentiment.

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SK Market: KAU prices nose dive even as analysts revise down oversupply estimates

Published 09:11 on April 6, 2021  /  Last updated at 09:11 on April 6, 2021  /  Asia Pacific, South Korea  /  No Comments

South Korean allowance prices have plummeted almost 15% so far this month amid a large oversupply for 2020, even though analysts now say the permit surplus won’t be as large as previously expected.

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South Korea issues first internationally generated offsets for domestic use

Published 08:48 on March 23, 2021  /  Last updated at 08:48 on March 23, 2021  /  Asia Pacific, Other APAC, South Korea  /  No Comments

South Korea has issued its first batch of Korean Offset Credits (KOCs) generated abroad and intended for use in its domestic emissions trading scheme.

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South Korea to appoint three new ETS market makers

Published 01:57 on March 22, 2021  /  Last updated at 08:17 on March 22, 2021  /  Asia Pacific, South Korea  /  No Comments

South Korea will appoint three additional market makers to boost liquidity in its emissions trading scheme, the environment ministry has announced, just days after amending the rules to allow private-sector entities to fill the role.

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