South Korea puts a price on carbon, approves emissions trading scheme

• May 3, 2012
Temple in South Korea

Creative Commons: Emmanuel Dyan, 2011

South Korea’s lawmakers approved a national emissions trading scheme on Wednesday to tackle its growing greenhouse gas emissions, overcoming strong industry opposition and joining a growing number of nations to put a price on carbon.

Of the 151 lawmakers who voted, 148 approved the scheme, underscoring bipartisan support for a cap on carbon emissions, in stark contrast with the United States and Australia where emissions trading has been deeply divisive.

Analysts and officials said the program won approval, despite fears it would hurt the economy, because of the long-term benefits to the country’s huge conglomerates from being more energy-efficient and exporting greener goods.

The scheme has not generated the same bitter public debate as in Australia and the United States, with the public more concerned with neighbouring North Korea.

Read More: Reuters >>


Comments (0)

Trackback URL | Comments RSS Feed

There are no comments yet. Why not be the first to speak your mind.

Comments are closed.

About the Author

TckTckTck is the online hub for the Global Call for Climate Action. The GCCA represents an unprecedented alliance of more than 400 nonprofit organizations from around the world. Our shared mission is to mobilize civil society and galvanize public support to ensure a safe climate future for people and nature, to promote the low-carbon transition of our economies, and to accelerate the adaptation efforts in communities already affected by climate change.

View Author Profile