April 24, 2024

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[THE INVESTOR] South Korea will increase the total greenhouse gas emissions rights in its cap-and-trade scheme for this year, the Finance Ministry said on Jan.24.

Under the revised 2017 emissions allocation plan endorsed by the Cabinet, some 538.9 million tons of emissions rights will be allocated to the trading market, up 17 million tons from the country’s earlier goal of 521.9 million tons for the year, according to the Ministry of Strategy and Finance.

South Korea’s cap-and-trade scheme is part of its plan to curb greenhouse gas emissions by 37 percent from 2030 business-as-usual levels. 

(theinvestor@heraldcorp.com)