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Study on firm's carbon management strategy under emission trading scheme

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Frame of Image most cost effective measure to meet the target. It should be noted, however this just means the companies will pay the less abatement cost of GHG than the one that they should have paid without ETS. ETS basically works on the 'Cap and Trade' principle, in which the companies that didn't have any regulations on GHG emissions before are now required to reduce the emissions within their allowances, so the occurrence of additional cost is inevitable. This makes the industry unwilling to adopt ETS, and in fact, introduction of ETS in Korea proceeded with difficulty in the course of policy preparation and its legislation because of the opposition of the relevant industry. Since the GHG ETS is scheduled to be enforced in Korea, companies need to prepare the most cost effective strategy to meet their emission allowances. This paper proposes the strategies to minimize the GHG abatement cost by reviewing the best practices to treat the climate change and ETS in either domestic or foreign major industries.
Abstract |
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2. Summary
This paper reviews the domestic or foreign practices to develop the strategies for ETS in the following industrial sectors: Power and Heat Generation; Steel; Petrochemistry; Semiconductors and Electric Electronic.
∙ Power and Heat Generation
The major power generating companies in Europe that participate in EU ETS, including RWE in Germany and Vattenfall in Sweden, has corresponded ETS through the invest on (i) the efficiency of the existing power plants, (ii)


Full Text
Title Study on firm's carbon management strategy under emission trading scheme
Similar Titles
Material Type Reports
Author(English)

Shim, Sung-Hee

Publisher

Ulsan:Korea Energy Economics Institute

Date 2015-08
Series Title; No Research Paper / 13-13
Pages 116
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Industry and Technology < Energy
Holding Korea Energy Economics Institute

Abstract

From the year of 2015, GHG ETS(Emission Trading System) is scheduled to be implemented in Korea, replacing current GHG/Energy target management system which has been operative since 2012 to reach the target of reducing emissions BAU by 2020. The government adopted ETS, because it is considered to be the most cost effective measure to meet the target. It should be noted, however this just means the companies will pay the less abatement cost of GHG than the one that they should have paid without ETS. ETS basically works on the 'Cap and Trade' principle, in which the companies that didn't have any regulations on GHG emissions before are now required to reduce the emissions within their allowances, so the occurrence of additional cost is inevitable. (The rest omitted)