The South Korean government has announced plans for an emissions trading scheme which it says could be in place as soon as late 2010.

Among the first announcements by any nation since the UN climate conference wound up twelve days ago, the government also confirmed it would register its voluntary 2020 emissions target - 20 per cent cuts below business as usual – by the end of January as required under the Copenhagen Accord. South Korea is the first developing country (ie. non-Annex 1 in Kyoto Protocol terms) to actively pursue an emissions trading policy, although it is more akin economically to many industrialised countries than its non-Annex 1 counterparts.

For more on the plan, visit: http://www.carbonpositive.net/viewarticle.aspx?articleID=1792