| South Korea’s carbon market will likely be oversupplied, however power producers will be under-allocated allowances, according to Thomson Reuters Point Carbon. South Korea will launch its carbon trading market on 1 January 2015, however its proposed form could fall short of the country’s goal to cut greenhouse gas (GHG) emissions to 30% below business-as-usual (BAU) levels by 2020. In its current form, the market will likely be oversupplied during its first trading period (2015-2017).
The Korean government has allocated 1687 million Korean Allowance Units (KAUs) to the power and industry sectors for the years 2015-2017 as part of the country’s cap-and-trade scheme...............................................Full Article: Source
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