Greenhouse Emissions Capped for Largest Companies in South Korea

09 February of 2012 by

south korea flag1 Greenhouse Emissions Capped for Largest Companies in South Korea

South Korean lawmakers passed legislation to create a cap-and-trade program in 2015, and voted to begin capping greenhouse gas (GHG) emissions of its largest companies this year, reports Bloomberg.

A special committee of the National Assembly voted in favor of the legislation against industry opposition.

The bill now goes through its final steps – through the Legislation and Judiciary Committee, and then to the assembly’s plenary session on Feb. 16.

It would be the third cap-and-trade program in the Asia-Pacific region, following Australia and New Zealand.

South Korea is the eighth-largest carbon emitter in the world, according to the International Energy Agency, and has a target of cutting emissions 30% by 2020.

Starting this year, about 500 of the country’s biggest polluters would face GHG caps in preparation for the 2015 cap-and-trade launch.

Original Article on SustainableBusiness.com

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