• Proceedings of the Korean Institute of Building Construction Conference
• /
• 2020.06a
• /
• pp.44-45
• /
• 2020

Korea has the fourth highest CO₂ emission among OECD countries in 2018, As of 2019, total greenhouse gas emissions per capita increased by about 98.2% in comparison to 1990. Korea has promised a 37% reduction in greenhouse gas emissions in 2030 from the projected Paris Climate Change Accord. Currently, many countries use the emissions trading system(ETS) for international carbon management. In 2015, ETS has been implemented in Korea, and the importance of calculating CO₂ emissions from construction machinery has increased. So, we require an accurate calculation of the environmental charges through the allocated CERs. Using the CER price and related search keywords, this paper derive about prediction models of CER price and compare and focus on more accurate prediction about CER price. By this method, the budget needed to establish the initial construction process plan can be calculated based on more accurate predicted CER price.

• Journal of the Korean Society for Railway
• /
• v.9 no.2 s.31
• /
• pp.19-24
• /
• 2006

Green gas emissions Trading System(ETS) came into effect in the Europe last year 2005. All transport modes have tried to reduce green gas emission and EU member countries are promoting the use of environmental friendly transport mode to avoid economic loss due to green gas emission. Besides ETS, rapidly rising of oil price and peak oil urge to invest more in the environmental friendly public transport mode and to discourage the use of private cars. The operation of KTX is estimated to bring external cost reduction up to 570 bil. won in 2004 based on European external unit costs of transport modes. This result implies that the expansion of high speed rail network and reconsideration of East-West high speed rail network which is not considered because of weak economic validity is required.

• Journal of Climate Change Research
• /
• v.5 no.4
• /
• pp.331-338
• /
• 2014

The continued efforts to reduce GHG emission by international cooperation and each country are in progress. As part of these efforts, Korea's ETS is enforced in 2015. This was the time to make strategies for each company to respond Korea's ETS. This study was performed to suggest a draft of basic strategies for electronic component industry in current Korea's ETS stage are as follows; - Analyzing the nature of electronic component industry - Identifying needs for corresponding ETS of electronic component industry - Analyzing basic countermeasures for each stage of ETS - Suggesting drafts of basic strategies for electronic component industry in current Korea's ETS stage The result of this study, the current stage of Korea's ETS is moving from implementation of the scheme become determined and prepare the minimum corresponding to direct corresponding to the regulation and market change. Electronic component industry has many GHG emission growth(or change) factor, and it will be make electronic component industry as a buyer when Korea's ETS is enforced. Korea's ETS will be clearly act as a regulation rather than new business for electronic component industry. Therefore, identifying the Korea's ETS as a regulation is resonable strategy for corresponding the scheme. The basic strategies of electronic component industry th responding Korea's ETS are as follows; - Building internal organization and decision-making system before enforcement the Korea's ETS - Establishing internal basic corresponding strategies according to carbon price forecast scenarios - Considering the energy consumption and GHG emissions in design phase and preparing the global ETS market in mid or long term.

• Environmental and Resource Economics Review
• /
• v.31 no.2
• /
• pp.261-290
• /
• 2022

Although market stabilization measures have been triggered in the K-ETS, carbon price is still under uncertainty. Considering Korea's 2030 enhanced reduction target announced in October 2021, it is crucial to have practical stabilization measures to appropriately deal with price uncertainty. This study examines the quantitative effects of a price collar, which is considered as a means of alleviating price uncertainty, on expected cumulative emissions and abatement costs. There are three main scenarios: carbon tax, emissions trading system, and emissions trading system with a price collar. Monte Carlo simulation was conducted to reflect uncertainty in emission. There are several results as follows: 1) In a price collar, domestic emission target is likely to be achieved with a lower expected abatement cost than other scenarios. In addition, there is a small amount of excess emissions in this research and it would be not critical(0.1% excess than target); 2) Prohibiting banking increases the expected abatement cost. This is because firms can not intertemporally reallocate allowances to match the firm's optimal emissions path; 3) With the adoption of a price collar, government's net revenue can be positive even if the government's purchase volume of emissions allowances is more than sales volume. This is because the government sells them at price ceiling and purchases them at price floor.

• Environmental and Resource Economics Review
• /
• v.27 no.4
• /
• pp.667-694
• /
• 2018

We analyze the learning-by-doing effects of the allowance pricing system on the Korea's emission trading scheme. The price of allowance (Korean Allowance Unit) is influenced differently by internal market factors and economic conditions variables in the first (January 2015 to June 2016 ) and the second commitment year(January 2016 to June 2017). The prices and transaction volumes of complementary credits (KCU and KOC) as well as economic conditions variables (such as call rate, exchange rate, stock price) are statistically significant only for the second commitment year. Thus, the learning-by-doing effect makes the market participation decision on K-ETS market more efficient in the second commitment year, adopting the previous experience and knowledge in the K-ETS market. The factors estimated significantly in both commitment periods include the institutional binary variable for requiring the submission of the emissions verification reports issued both on February and March.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.20 no.3
• /
• pp.576-586
• /
• 2019

Airlines need to reduce their greenhouse gas (GHG) emissions because of the Paris Climate Agreement and ICAO CORSIA. This examined the degree of the strategic responses to which the airlines have made and the problems in the emission trading system (ETS). According to the analysis, the total amount of emission all the airlines made in the last three years was 116% more than the emission allowance imposed by the central government resulting in 10.7 billion KRW additional emission expense. Airlines would also face an increased carbon cost due to the implementation of ICAO CORSIA by purchasing an additional paid-in emission allowance in international routes. Although it is effective to retire the old aircraft early and induce the brand-new fuel-efficient aircraft to reduce GHG emissions, it is impractical in the short-term due to the tremendous amount of investment. To reduce the emission, airlines are washing engines, using ultra-light ULD and carts in the cabin, increasing the use of flaps and preventing the use of APU. On the other hand, these are very limited measures for reducing emissions according to the ICAO's mandatory emission target.

• The Korean Journal of Air & Space Law and Policy
• /
• v.25 no.1
• /
• pp.3-26
• /
• 2010

The European Union(EU) has recently introduced its Directive 2008/101/EC to include aviation in the EU ETS(emissions trading system). As an amendment to Directive 2003/87/EC that regulates reduction of the green house gas(GHG) emissions in Europe in preparation for the Kyoto Protocol, 1997, it obliges both EU and non-EU airline operators to reduce the emission of the carbon dioxide(CO2) significantly in the year 2012 and thereafter from the level they made in 2004 to 2006. Emission allowances allowed free of charge for each airline operator is 97% in the first year 2012 and 95% from 2013 and thereafter from the average annual emissions during historical years 2004 to 2006. Taking into account the rapid growth of air traffic, i.e. 5% in recent years, airlines operating to EU have to reduce their emissions by about 30% in order to meet the requirements of the EU Directive, if not buy the emissions right in the emissions trading market. However, buying quantity is limited to 15% in the year 2012 subject to possible increase from the year 2013. Apart from the hard burden of the airline operators, in particular of those from non-European countries, which is not concern of this paper, the EU Directive has certain legal problems. First, while the Kyoto Protocol of universal application is binding on the Annex I countries of the Climate Change Convention, i.e. developed countries including all Member States of the European Union to reduce GHG at least by 5% in the implementation period from 2008 to 2012 over the 1990 level, non-Annex I countries which are not bound by the Kyoto Protocol see their airlines subjected to aircraft emissions reductions scheme of EU when operating to EU. This is against the provisions of the Kyoto Protocol dealing with the emissions of GHG including CO2, target of the EU Directive. While the Kyoto Protocol mandates ICAO to set up a worldwide scheme for aircraft emissions to contribute to stabilizing GHG concentrations in the atmosphere at a level that would prevent dangerous anthropogenic interference with the climate system, the EU ETS was drawn up outside the framework of the international Civil Aviation Organization(ICAO). Second, EU Directive 2008/101 defines 'aviation activities' as covering 'flights which depart from or arrive in the territory of a Member State to which the [EU] Treaty applies'. While the EU airlines are certainly subject to the EU regulations, obliging non-EU airlines to reduce their emissions even if the emissions are produced during the flight over the high seas and the airspace of the third countries is problematic. The point is whether the EU Directive can be legally applied to extra-territorial behavior of non-EU entities. Third, the EU Directive prescribes 2012 as the first year for implementation. However, the year 2012 is the last year of implementation of the Kyoto Protocol for Annex I countries including members of EU to reduce GHG including the emissions of CO2 coming out from domestic airlines operation. Consequently, EU airlines were already on the reduction scheme of CO2 emissions as long as their domestic operations are concerned from 2008 until the year 2012. But with the implementation of Directive 2008/101 from 2012 for all the airlines, regardless of the status of the country Annex I or not where they are registered, the EU airlines are no longer at the disadvantage compared with the airlines of non-Annex I countries. This unexpected premium for the EU airlines may result in a derogation of the Kyoto Protocol at least for the year 2012. Lastly, as a conclusion, the author shed light briefly on how the Korean aviation authorities are dealing with the EU restrictive measures.

• Journal of Environmental Policy
• /
• v.14 no.3
• /
• pp.41-73
• /
• 2015

The Korea Emissions Trading System that was launched in Jan. 2015 is expected to be a crucial policy measure to abate domestic $CO_2$ emission. For accomplishing its purpose, prior information on the price discovery process needs to be presented in order to facilitate the trading of spot allowances with different vintages. We develope a customized pricing method for Korean ETS using the concept of term structure and the cost of carry model.

• Environmental and Resource Economics Review
• /
• v.31 no.2
• /
• pp.165-204
• /
• 2022

This study organized data from 2000 to 2014 for 20 grid-connected countries in Europe and analyzed the determinants of carbon emissions through the panel GLS method considering the problem of heteroscedasticity and autocorrelation. At the same time, the effect of introducing ETS was considered by dividing the sample period as of 2005 when the European emission trading system was introduced. Carbon emissions from individual countries were used as dependent variables, and proportion of generation by each source, power self-sufficiency ratio of neighboring countries, power production from resource-holding countries, concentration of power sources, total energy consumption per capita in the industrial sector, tax of electricity, net electricity export per capita, and size of national territory per capita. According to the estimation results, the proportion of nuclear power and renewable energy generation, concentration of power sources, and size of the national territory area per capita had a negative (-) effect on carbon emissions both before and after 2005. On the other hand, the proportion of coal power generation, the power supply and demand rate of neighboring countries, the power production of resource-holding countries, and the total energy consumption per capita in the industrial sector were found to have a positive (+) effect on carbon emissions. In addition, the proportion of gas generation had a negative (-) effect on carbon emissions, and tax of electricity were found to have a positive (+) effect. However, all of these were only significant before 2005. It was found that net electricity export per capita had a negative (-) effect on carbon emissions only after 2005. The results of this study suggest macroscopic strategies to reduce carbon emissions to green growth, suggesting mid- to long-term power mix optimization measures considering the electricity trade market and their role.