Since 2011, Korea Energy Management Corporation (KEMCO) has been carrying out Domestic Emissions Trading Pilot Project for Power and Industry Sector to provide Korean industries with the opportunity to experience emissions trading before the commencement of the nation-wide emissions trading scheme in 2015.
In order to maximize the Project effectiveness, KEMCO linked the Project with GHG Energy Target Management Scheme and borrowed not only the scheme target but also Measurement, Reporting & Verification (MRV) tool. Also, by providing web-based trading platform for online simulation trading using cyber-money KEMCO expects to minimize the burden of project participants which might arise from cash transactions. As a result, the project participants have traded permits and took part in auctioning. KEMCO will evaluate the performance of all participants and reward companies which show outstanding results.
Overview of Domestic Emissions Trading Pilot Project
|Year||Number of Participants||Emission of Participants(a) (MtCO2e)||Emission of Power & Industry Sector(b) (MtCO2e)||Ratio (%) (a/b)||Total Volume (1,000KAU)||Auction Volume (1,000KAU)||Total Transaction Value (KRW Million)|
* KAU : Korea Assigned Unit, 1KAU=1tCO2