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Climate and carbon markets : Options for South Korea

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Frame of Image nfluence the low carbon and green agendas in both developing and developed countries. The country could exercise this influence in a number of ways. For example, it could proactively push for an ambitious global deal on climate change; also, could leverage the weight of its own carbon market to encourage the creation, growth and harmonization of regional carbon markets. However, it is noted that South Korea’s unique opportunity may be limited in time, as its influence could soon be reduced when China launches its national carbon markets in 2016. Carbon markets: their history and development The history of carbon markets formally begins in 1992, when the UN convened the Conference on Environment and Development in Rio de Janeiro, producing the Framework Convention on Climate Change (UNFCCC). Its 156 signatories declared their “concern that human activities have been substantially increasing the atmospheric concentrations of greenhouse gases … and may adversely affect natural ecosystems and humankind”. The Convention established an international framework within which it would be possible to limit anthropogenic greenhouse gas emissions. It also demanded that “policies and measures to deal with climate change should be cost-effective so as to ensure global benefits at the lowest possible cost”.2
Looking at developed countries to spearhead this cause, the Kyoto Protocol was signed in 1997 to reduce greenhouse gas emissions by 5.2% compared to 1990 levels. One of the important cla


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Title Climate and carbon markets
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Sub Title

Options for South Korea

Material Type Reports
Author(English)

Gallo, Federico; Kim, Chong Woo

Publisher

[Seoul]:The Asan Institute for Policy Studies

Date 2015-04
Series Title; No Issue Brief / 2015-06
ISBN 979-11-5570-104-1
Pages 12
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Energy
Territorial Development < Environment
Holding The Asan Institute for Policy Studies