South Korea launches world's second largest carbon market

http://www.businessgreen.com/bg/news/2389801/south-korea-launches-worlds-second-largest-carbon-market

Emissions trading scheme officially comes online this week, promising a further boost to global carbon market

However, reports suggested some energy firms will face a shortfall of allowances that will drive some demand for permits and analysts have indicated prices could rise from around $10 a tonne this year to about $30 a tonne by 2017.

A number of leading industrial firms have campaigned to water down the scheme in recent years, voicing fears it could push up energy costs and undermine the competitiveness of South Korea's manufacturing base.

However, the government has consistently argued the scheme will provide a crucial role in cutting greenhouse gas emissions and bolstering its fast-expanding clean tech sector.