Thursday, May 17, 2012

South Korea passes Emissions Trading Scheme

South Korea has just passed laws to begin an emissions trading scheme. The scheme will start on January 1 2015, with a price cap equivalent to $83/tonne - over 3 times higher than the Australian carbon price.

This was mentioned last year, along with a $36 million investment in renewable energy, and an ambitious goal to cut emission by 30% by 2020. And they seem to be well on the way - already being in the top 10 solar countries.

[Full article]

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