Korea Unveils Road Map to Curb Carbon Emissions

South Korea has released a detailed action plan to reduce carbon emissions and “boost incentives for renewable energy and cleaner power plant projects,” reports Shin Hyon-hee for the Investor. “It intends to raise the share of renewable sources in its portfolio to 7 percent from the existing 6 percent by 2020.” The country anticipates global discussions on international mechanisms including carbon-credit trading and funding sources – and the plan calls a cape-and-trade system as key to spurring innovations and meeting the 2030 goal. The plan expanded funding for 10 climate technologies including solar and fuel cells as well as conversion of waste gas. The government transferred responsibility for oversight and inspections to the prime minister’s office from the environmental minister, and is prepared to revise plans based on economic conditions as well as global climate policy trends. – YaleGlobal