Next Steps For Korea's Emission Trading Scheme

Law360, New York (January 2, 2013, 3:50 PM EST) -- The presidential decree implementing the Republic of Korea's emissions trading scheme (ETS) received official approval on Nov. 13, 2012, paving the way for the commencement of the ETS in 2015.

The ETS represents an important step in Korea achieving its goal to reduce greenhouse gas (GHG) emissions by 30 percent from projected levels by 2020.

Legislative History

The Act on Allocation and Trading of Greenhouse Gas Emissions Allowances (ETS Act), was passed by the Korean parliament on May 2, 2012, without a dissenting vote, demonstrating bipartisan...
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