February 26, 2016
South Korea abandons 2020 GHG target, puts ETS in new hands and lifts early action credit cap
- Carbon Pulse

South Korea on Friday announced a raft of climate policy changes, including abandoning its GHG emissions target for 2020, stripping the Ministry of Environment of its responsibility for the emissions trading scheme, and lifting a cap on Early Action Credits that observers say could boost the market’s supply by more than 40 million tonnes.

“The introduction of (planned) new coal plants after 2016 will represent a more than 65% increase in coal capacity, compared to Korea’s current levels,” Joo-jin Kim, a lawyer with consultancy ELPS, told Carbon Pulse.