INTIEAKorea · First Basic Plan for 2015-2024 - Domestic Emission Trading SchemePolicyIn force

First Basic Plan for 2015-2024 - Domestic Emission Trading Scheme

Korea introduced in 2015 its national emissions trading scheme.  In a first phase, the power market will conduct a demonstration project, based on the baseline matrix scheme, and in the next phase other industries like refinery, petrochemical, and steel by electric furnace will…

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Country / jurisdiction: Korea · Year: 2015 · Status: In force · Level: National · Type: Voluntary

Korea introduced in 2015 its national emissions trading scheme.

In a first phase, the power market will conduct a demonstration project, based on the baseline matrix scheme, and in the next phase other industries like refinery, petrochemical, and steel by electric furnace will constitute a new carbon market. In the last phase, a general emission trading market will be established where the government itself participate as a buyer to absorb the credit offered by the renewable energy and ESCO (energy service company) projects.

Official source: https://www.moef.go.kr/nw/nes/detailNesDtaView.do?menuNo=4010100&searchNttId1=OLD_4020294&searchBbsId1=MOSFBBS_000000000028

Source

https://www.iea.org/policies/3823

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