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The importance of passing Korea’s carbon trading bill and ETS development

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  • The importance of passing Korea’s carbon trading bill and ETS development
  • Noh, Hee-Jin
  • Korea Capital Market Institute


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Title The importance of passing Korea’s carbon trading bill and ETS development
Similar Titles
Material Type Reports
Author(English)

Noh, Hee-Jin

Publisher

[Seoul]:Korea Capital Market Institute

Date 2012-05
Series Title; No Capital Market Opinion
Pages 7
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Territorial Development < Environment
Holding KCMI

Abstract

The recent passage of carbon trading legislation in Korea is getting international attention. Generally, businesses object to emission trading schemes (ETS) because of cost concerns whereas environmental groups welcome the scheme. Furthermore, passing emissions trading legislation is not easy when the incumbent government’s term is coming to an end. Nevertheless, the emissions trading bill became law recently in Korea with strong bipartisan support. This will form the legal basis for policy consistency and induce active participation from various industries. And it will help Korea to enhance its global presence and become carbon trading hub in Asia. This article discusses the importance of ETS in Korea, and looks at the background and overview. It also examines the ETS in other countries, and mulls over what should be done for ETS development in Korea.