Korea Approves Carbon Trading System

Korea has approved the previously announced cap-and-trade system for cutting carbon emissions, and it will be established by 2015, say press reports. Korea will be on the first countries in Asia, to establish such a system. The start of the carbon trading system was pushed back, earlier this year, by two years to 2015 as several large companies in Korea felt the system will affect their competitiveness. Emission limits will apply to companies that discharge 125,000 m.t./year or more of carbon dioxide or workplaces that emit at least 25,000 m.t./year of carbon...

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