South Korea to increase its climate efforts

South KoreaTo several sources including TreeHugger and The Energy Collective, South Korea is about to ”  create the world’s most ambitious cap and trade market, with the highest global price on carbon. “ The launch will take place in 2015.

This initiative will cover 70 percent of the nation’s emissions and will charge no less than $90 (67 euros) per ton of carbon. All this is done to reduce carbon emissions by thirty percent (30% !) compared to business as usual scenario by 2020.

Congratulations to South Korea for showing some leadership in the climate area. If only all G2O countries could do the same…

By Edouard

Edouard is a sustainability and energy professional committed to bringing our societies to a carbon neutral future. He has been writing on related topics on this very blog since 2007.

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