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Institutionalization of Emission Trading System in Korea.

  • Public Land Law Review
  • Abbr : KPLLR
  • 2009, 43(3), pp.199-228
  • Publisher : Korean Public Land Law Association
  • Research Area : Social Science > Law

Kim, Choon-Hwan 1

1조선대학교

Accredited

ABSTRACT

The international community reached agreement at the Kyoto Conference to reduce green house emission through an emissions trading system. Following adoption of the Kyoto Protocol, the operational methods and implementation mechanism for the emissions trading system became the subject of intense debate. At the 4th Conference of Party held in Buenos Aires, Argentina in 1998, a detailed work plan for an emission trading system was agreed upon. At this conference, Korea announced its intention to first reduce green house gas emissions on a voluntary basis and then, beginning in the third implementation period (2018-2022) of the Kyoto Protocol, become subject to the legally binding emissions reduction target. Joining the Kyoto Protocol, however, presents significant challenges to Korea, the greatest of which are presents significant challenges to Korea, the greatest of which are presented by ever-increasing domestic energy demand and an industrial structure dominated by manufacturers that inefficiently consume high amounts of energy. Thus, there is an urgent need for Korea to develop multi-dimensional strategies to reduce green house gases. Institutionalization of emission trading system in Korea is very important among the strategies. The emissions trading system, a ceiling on allowable worldwide emissions is established. Especially, the developed countries as well as EU have developed the emission trading system from long time ago. Legal systems of these developed countries can help us to legalize the system. In this paper, the meanings, purposes, merits of emission trading system were described in this paper. The emission trading system of EU, U.S.A., Japan, and England as developing countries were examined and evaluated thoroughly. And the emission trading system of current Korean laws were reviewed, and pointed out several problems. Finally, the legalization of emission trading system presented.

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