Climate Politics
Korea to Impose Stricter Emissions Trading Rules to Boost Prices
- The nation will include more participants in its carbon market
- It will scrap more unused permits to avoid irregular profits
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South Korea will expand participation in its emissions trading system as part of a set of reforms aimed at improving its stability and impact, according to the Ministry of Environment.
The Asian nation will open up its carbon market to a wider group of participants, including asset managers, banks and insurers, the ministry said in a statement. It will also tighten regulations on scrapping excess carbon credits, according to the statement.