Greenhouse gas emissions exchange traded funds (ETFs) are coming to market next year. In 2025, a futures market will be introduced. The idea is to revitalize the currently closed emissions market. (Image courtesy of Yonhap News TV)
SEOUL, Oct. 11 (Korea Bizwire) – Greenhouse gas emissions by South Korea’s top 15 corporate emitters increased by 9.1 percent last year compared with four years ago, data showed Wednesday.
According to the data from the Greenhouse Gas Inventory and Research Center released by Rep. Lee Hack-young of the Democratic Party, the combined greenhouse gas emissions by the top 15 corporates reached 170.7 million tons last year, compared with 156.5 million tons recorded in 2018.
This increase occurred despite the country’s top corporate greenhouse gas emitter POSCO, a steelmaker, reducing its emissions by 4 percent during the four-year period to 70.18 million tons in 2022.
Meanwhile, the seventh- and eight-biggest emitters, Hyundai Steel Co. and Samsung Electronics, saw their emissions rise sharply by 26.7 percent and 38.6 percent in the same period, respectively, to 28.51 million tons and 14.92 million tons last year.
The second- to sixth-largest emitters, all power plant companies, all had their emissions cut by 11 percent to 38 percent during the four-year period.
Among the seventh- to the 15th-biggest corporate emitters, only two, Ssangyong C&E Co. and SK Energy Co., achieved reductions from 2018-2022.
According to the country’s long-term carbon-neutrality plan formulated in April, the industrial sector is required to reduce its greenhouse gas emissions by 11.4 percent by 2030 from its 2018 emissions.
(Yonhap)
