Download or read book The Korea Emissions Trading Scheme written by Asian Development Bank and published by Asian Development Bank. This book was released on 2018-11-01 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication presents a factual overview of the design and implementation of the Korea Emissions Trading Scheme, focusing on lessons from its implementation and opportunities under the Paris Agreement. It provides information to assist other countries that are designing or considering an emissions trading system. The contents are relevant as Asia and the Pacific embraces the need for climate action to deliver on its Paris Agreement commitments and many countries explore new emissions trading systems.
Download or read book The Korean Emissions Trading Scheme written by Tae-Hee Kim and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Linking an Emissions Trading Scheme with a Renewable Credits Market in Korea written by Jongmin Yu and published by . This book was released on 2017 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Emission Trading Scheme (ETS) in Korea enables companies to use offset credits generated from renewable energy projects under the Renewable Portfolio Standard (RPS), which is up to 10% of total allowances. Hence, even if two quantity-based regulation systems have different policy objectives, the two mechanisms can be indirectly linked. This paper demonstrates how one mechanism influences the other by responding to changes in institutional conditions and regulatory policies using the analytic partial equilibrium model. We compared the effect of changes, such as changes in the quota of renewable energy use in power generation, reduction in target greenhouse gas emission, level of penalty, and marginal abatement costs, including fuel switching from fossil fuel to renewable energy.
Download or read book Greenhouse Gas Emissions Trading Schemes written by Yong Gun Kim and published by . This book was released on 2005-01-01 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Assessing the Performance of Korea s GHG Emissions Trading Scheme in Phase written by Insung Son and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Emissions Trading Schemes and Their Linking written by Asian Development Bank and published by Asian Development Bank. This book was released on 2016-04-01 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: Asia and the Pacific has achieved rapid economic expansion in the recent years and has become a major source of greenhouse gas (GHG) emissions. With more than half of the world’s population and high rates of economic growth, the region is especially vulnerable to the effects of climate change and therefore must play its part in cutting GHG emissions. The Paris Agreement adopted last December 2015 at the United Nations Framework Convention on Climate Change COP21 aims to restrict global warming to well below 2°C above preindustrial levels and to pursue efforts to reach 1.5°C---which is especially relevant to Asia and the Pacific region given its vulnerability. This knowledge product highlights how robust policies on emissions trading systems (ETS) can be important tools in reducing GHG emissions in a cost-effective manner, as well as supporting the mobilization of finance together with deployment of innovative technologies. There are currently 17 ETSs in place in four continents and account for nearly 40% of global gross domestic product. In Asia and the Pacific region, there are 11 systems operating, with more being planned. The growing wealth of experience on ETSs can be valuable to support DMCs that are planning and designing new systems of their own. This knowledge product summarizes some of the most significant learning experiences to date and discusses some of the solutions to alleviate challenges that have been faced. It also examines the possibilities for future linked carbon markets in the region.
Download or read book Responding to Climate Change written by Chin Hee Hahn and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: This topical book explores the global experiences of responding to climate change, with perspectives from Australia, China, the European Union, Japan, the Republic of Korea, the United States, as well as the International Energy Agency. The authors, internationally recognized specialists in the field, discuss the obstacles faced by policymakers, as well as exploring policies and recommendations for achieving goals set in responding to climate change. The work also uses the case of Korea in the initial stage of its policymaking, as an example for developing countries not bound by the provisions of the 1997 Kyoto Protocol on climate change. This important book assesses current national policies and future options for the global response to climate change. Responding to Climate Change will prove to be insightful for environmental policymakers and researchers for use in assessments of lessons in global and regional experience with climate change and for future policy directions. Graduate and upper-level undergraduate students studying environmental and natural resources will also find plenty of invaluable information in this important resource.
Download or read book The Evolution of Carbon Markets written by Jørgen Wettestad and published by Routledge. This book was released on 2017-12-14 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Carbon markets are developing and expanding around the world, but how and to what extent is their design shaped by learning and interaction between them? How do these markets function and what is the role of design? Carrying out a ground-breaking analysis of their design and diffusion, this book covers all the major carbon market systems and processes around the world: the EU, RGGI, California, Tokyo, New Zealand, Australia, China, South Korea and Kazakhstan. It offers a systematic, in-depth discussion and comparison of the key design features in these systems with expert contributors exploring how, and to what extent, these features have been shaped by central policy diffusion mechanisms and domestic politics. By focussing on the specific design features of the instruments used, this volume makes important contributions to diffusion theory, highlighting how ETS diffusion processes more often have resulted in design divergence than convergence, and discussing the implications of this finding for the vision of linked systems in the post-Paris era. It will be of significant interest to a broad audience interested in the emergence, evolution, functioning and interaction of carbon markets.
Download or read book Climate Change Mitigation Policy and Sustainable Economic Growth written by Hyejin Park and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis examines the economy-wide impacts of achieving South Korea's carbon dioxide (CO2) emissions reduction target under the Copenhagen Accord using a model-based approach. The approach followed is to develop a version of the G-Cubed model, including South Korea as a separate economy within the global modelling framework. This enables a large amount of detail on the Korean economy to be analysed as well as capturing the significant trade and financial linkage between Korea and other individual countries. Using the model, comprehensive and quantitative analyses on the climate change policies of South Korea are performed to (1) discuss the adequacy of South Korea's CO2 emissions reduction target and its economic influence on the country, including a comparison of the mitigation efforts of other countries, (2) empirically address the feasibility of the proposed international carbon trading scheme, and (3) explore the most efficient and sustainable climate change mitigation policy framework for South Korea under uncertainty. From this, it is found that the standardised South Korean emissions reduction target which is about a 30 percent reduction relative to business-as-usual (BAU) emissions by 2020, is less stringent compared to developed countries, such as the US, EU, Japan and Australia, while it is more stringent than other developing countries like China and India. However, the estimated carbon price for South Korea to reach the reduction target is as high as those of the developed countries or much higher than the developing countries due to its energy-intensive economic structure. The relatively higher emissions mitigation cost for South Korea to reach its target will have negative effects on the economy, resulting in a significant GDP loss and weakened international competitiveness. Emissions trading schemes are considered as a way to reduce the relatively high carbon price by trading emissions permits with countries where the reduction cost is relatively low. However, the analyses performed using the Korean version of the G-Cubed model show that such emissions trading schemes are neither feasible nor sustainable for achieving the emissions mitigation target of South Korea in scenarios of global and regional cooperation, particularly in the Asia-Pacific region. This is mainly because of the reluctance of countries with relatively lower marginal abatement costs to join the international carbon trading scheme where international transfers are insufficient. This shows that an international carbon market will be unsustainable unless legally binding international agreements which regulate emissions in developing countries are made. Lastly, from a comparative analysis of economic impacts of three policy frameworks, including (1) a cap and trade emissions trading scheme, (2) a carbon tax, and (3) the McKibbin Wilcoxen Hybrid policy, the hybrid approach is found to achieve the emissions reduction target of South Korea with the lowest loss of both GDP and consumption. The hybrid policy which performs like a carbon tax or a cap and trade scheme depending on the macro-economic situation, provides flexibility and sustainability in designing, developing and implementing South Korea's green growth strategy.
Download or read book Approaches to Enhance the Market Functionality of the K ETS written by Yeochang Yoon and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: South Korea has set ambitious greenhouse gas (GHG) emission reduction targets. However, the country currently confronts a decline in the price of emission permits. This downward trend could obstruct the successful realization of GHG objectives through market mechanisms. The current emissions trading scheme (ETS) restricts banking of excess emission allowances, which has been identified as the main reason of the ongoing price decline.Consequently, this restriction hinders the adequate reflection of updated targets within the emissions trading market. To address this issue and avert potential shocks from a substantial reduction in emission allowance supply during Phase IV, it is necessary to relax the banking restrictions. At the same time, to proactively manage potential price escalations resulting from eased restrictions on permit banking, supplementary measures are required. These measures could include the introduction of explicit market stability mechanisms utilizing allowance reserves and the expansion of allowance supply channels.
Download or read book Research Handbook on Emissions Trading written by Stefan E. Weishaar and published by Edward Elgar Publishing. This book was released on 2016-12-30 with total page 381 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Handbook on Emissions Trading examines the origins, implementation challenges and international dimensions of emissions trading. It pursues an interdisciplinary approach drawing on law, economics and at times, political science, to present relevant research strands regarding emissions trading. Intermixing theoretical insights with experiences from existing trading systems, this Handbook offers insights that can be applied around the world. It identifies key bodies of research for both upcoming and seasoned people in the field and highlights future research opportunities.
Download or read book Emissions Trading Schemes Under International Economic Law written by James F. Munro and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The announcement by China that it will implement a national emissions trading scheme confirms the status of this instrument as the pre-eminent policy choice for mitigating climate change. China will join the dozens of existing and emerging schemes around the world - from the EU to California, South Korea to New Zealand - that use carbon units (otherwise known as emissions permits or carbon credits) to trade in greenhouse gas emissions in a multi-billion dollar global carbon market. However, to date, there has been no consensus about this pre-eminent policy instrument being regulated by international economic law through the World Trade Organization, international investment agreements, and free trade agreements.
Download or read book Emissions Trading Schemes under International Economic Law written by James Munro and published by Oxford University Press. This book was released on 2018-08-09 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: The announcement by China that it will implement a national emissions trading scheme confirms the status of this instrument as the pre-eminent policy choice for mitigating climate change. China will join the dozens of existing and emerging schemes around the world - from the EU to California, South Korea to New Zealand - that use carbon units (otherwise known as emissions permits or carbon credits) to trade in greenhouse gas emissions in a multi-billion dollar global carbon market. However, to date, there has been no consensus about this pre-eminent policy instrument being regulated by international economic law through the World Trade Organization, international investment agreements, and free trade agreements. Munro addresses this issue by evaluating whether carbon units qualify as 'goods', 'services', 'financial services', and 'investments' under international economic law and showing how international economic law applies to emissions trading scheme in diverse and unexpected ways. Further, by engaging in a comparative assessment of schemes around the world, his book illustrates how and why all emissions trading schemes engage in various forms of violations of international economic law which would not, in most instances, be justified by environmental or other exceptions. In doing so, he demonstrates how such schemes can be designed or reformed in ways to ensure their future compliance.
Download or read book 2019 Korean Emissions Trading System Report written by and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Carbon Pricing in Japan written by Toshi H. Arimura and published by Springer Nature. This book was released on 2020-09-17 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book evaluates, from an economic perspective, various measures introduced in Japan to prevent climate change. Although various countries have implemented such policies in response to the pressing issue of climate change, the effectiveness of those programs has not been sufficiently compared. In particular, policy evaluations in the Asian region are far behind those in North America and Europe due to data limitations and political reasons. The first part of the book summarizes measures in different sectors in Japan to prevent climate change, such as emissions trading and carbon tax, and assesses their impact. The second part shows how those policies have changed the behavior of firms and households. In addition, it presents macro-economic simulations that consider the potential of renewable energy. Lastly, based on these comprehensive assessments, it compares the effectiveness of measures to prevent climate change in Japan and Western countries. Providing valuable insights, this book will appeal to both academic researchers and policymakers seeking cost-effective measures against climate change.
Download or read book Market based Tool for Environmental Management written by Mooneue Choi and published by . This book was released on 2007 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Impact of the Allocation of Scope 2 Emissions in the Korea Emissions Trading System on the Corporate Greenhouse Gas Emission Composition written by Youngji Lee and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2015, South Korea implemented the Korea Emissions Trading System (K-ETS) in order to achieve its national greenhouse gas (GHG) reduction goals. GHG emissions are classified into Scope 1 emissions, those from direct consumption of fossil fuels, and Scope 2 emissions, those from electricity consumption. In many countries that implement an ETS, including the EU member states, only Scope 1 emissions are included in the allowance allocation; the Korean ETS is unusual in that it includes both Scope 1 and Scope 2 emissions. In this study, we obtained data for Phase I (2015-2017) of K-ETS implementation and up to the second year of Phase II (2018-2019). We analyzed the effect of the allocation of Scope 2 emissions on corporate GHG composition. Our analysis reveals that companies subject to emissions allowance allocation in industrial sectors had lower Scope 1 emissions after implementing K-ETS. Furthermore, the net reduction of Scope 1 emissions was greater in Phase I than in Phase II. The reduction of Scope 2 emissions was not significant during the K-ETS implementation period, but we observed that Scope 2 emissions decreased when the carbon price increased.
