The opinions of civilians will play a direct role in deciding the greenhouse gas emissions policy of South Korea going forward, the Ministry of Environment revealed on January 1. (Image: Korea Bizwire)
SEOUL, Jan. 3 (Korea Bizwire) – The opinions of civilians will play a direct role in deciding the greenhouse gas emissions policy of South Korea going forward, the Ministry of Environment revealed on January 1.
Following the government’s decision last December to restructure the systems in place to deal with climate change, chief oversight of emissions trading and the revision of the policies to reduce greenhouse gas emissions has been placed with the Ministry of Environment.
A government-civilian consultation body staffed by members from relevant government offices, industry and economic organizations will discuss policies that support the reduction of greenhouse gas emissions and the expansion of the emissions trading market.
Emissions trading was first introduced in 2015. Companies that either exceed or are below their designated emissions limits can deal with one another for profit or to stay below the government-mandated emissions ceiling.
The Ministry of Environment intends to collect the opinions of experts, civil society and industry on how best to tackle the various aspects of greenhouse gas emissions regulatory policy. (Image: Korea Bizwire)
The government will implement the new consultation body’s policies and conclude its second round of greenhouse gas emission limits for companies before the end of the year. Last December, the government set the first round of total greenhouse gas emissions to 538 million tons among 591 companies.
The government promised the international community in 2015 that by 2030, South Korea’s greenhouse gas emissions would be 37 percent lower than the current projected amount. To achieve this ambitious target, a roadmap was established in December of 2016. Civilians will play a part in influencing the revisions and improvements to the government’s roadmap.
A government-civilian body has since last September been preparing an amendment to the roadmap and will likely be completed in the first half of this year.
The Ministry of Environment intends to collect the opinions of experts, civil society and industry on how best to tackle the various aspects of greenhouse gas emissions regulatory policy.
Kevin Lee (kevinlee@koreabizwire.com)
