Asia Carbon Wrap: South Korea Permit Prices Hit Three-Year High

South Korean carbon permit prices climbed to the highest level since April 2023 as investors priced in a tightening demand and supply balance following policy changes.

Carbon allowances climbed to 13,450 won ($9.37) a ton on Thursday, according to data from the Korean Exchange. The increase comes as investors expect more regulatory changes in the fourth phase of the Korean Emissions Trading Scheme this year, including proposals to add a price floor to auctions.