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B-PMR Mission in Seoul, Republic of Korea, 2015
In April 2011, the South Korean government released its final draft for an emissions trading system, modeled on the EU ETS that outlines a three-phase program. This program, however, is not limited to a ten-year term of operation. Korea became the first Asian country to pass a national cap-and-trade system when the National Assembly passed this bill on May 2, 2012 almost unanimously. Emissions trading in Korea began on January 1, 2015. The system was designed to cater towards the opinions of stakeholders and industry, as well as accounting for South Korea’s international competitiveness.
South Korea is the first Asian country to pass a national economy-wide ETS into law, and it is on track to become the second Asian country to implement its national economy-wide ETS.
IETA held its 2nd BPMR Mission to Korea in March, 2015. Below please find videos, workbooks (in English and Korean), and presentations.
| Main points of the mission:
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English Download the pdf version of the workbook from the B-PMR mission in Seoul in English or click open publication (above) to read online. | Korean Download the pdf version of the workbook from the B-PMR mission in Seoul in Korean or click open publication (above) to read online. |
VIDEOS
R. Park, Ministry of Environment, Korea | K. Sasaki, Brithish Embassy Korea |
D. Forrister, IETA | H. Lee, Ministry of Environment, Korea |
E. Boonman, Statkraft | P. Curnow, Baker McKenzie |
C. Wolff-Bye, Statoil | Trading, Corporate Organisation |
D. Broekhoff, Climate Action Reserve
| A. Handley, Carbon Credit Solutions |
J. Lee, Solvay | J. Swartz, IETA |
Y. Choi, ICIS | A. Ritchie, ICF International |
G. Dickson, Alstom | J. Swartz, IETA & E. Boonman, Statkraft |
ETS experiences
| D. Forrister, IETA |
Closing Remarks | Interview - R. Park, Ministry of Environment, Korea |
Interview - CH Chang, KOSEP | Interview - I.S. Yu, Industrial Bank of Korea |
Interview - D. Forrister, IETA |
PRESENTATIONS
Paul Curnow
Corporate Carbon Accounting and Monitoring
Offsets: The Californian Experience
Jeff Swartz
Summary of IETA market architecture for Paris 2015
Price Forecasting in Carbon Markets
Allocation: Benchmarking and capacity utilisation rate