This week, climate policy headlines from around the world include a new multinational renewable energy coalition, progress on cap-and-trade in South Korea, and the world’s largest REDD+ project moving forward in Indonesia.
South Korea plans ambitious carbon market
South Korea’s government plans to meet in May with the nation’s biggest emitters to provide information about the start of cap and trade in 2015.
The government plans to select an exchange for greenhouse- gas emissions in the second half of this year and decide how to allocate free allowances to an estimated 480 emitters by June 2014, Lee Hyung Sup, a deputy-director at the Ministry of Environment, said in a phone interview yesterday in Seoul. Trials for carbon trading are set to start in June 2014, he said. Full article.