LONDON May 2 South Korean lawmakers approved a
national emissions trading scheme on Wednesday to tackle the
country's growing greenhouse gas pollution, overcoming strong
industry opposition and joining a growing number of nations to
put a price on carbon.
The scheme puts a cap on emissions from top polluting firms
right across the economy, encouraging them to become more energy
efficient. To meet the mandatory cap, firms usually trade
emissions permits or buy carbon offsets from overseas to manage
their carbon liabilities.
Out of 151 lawmakers who voted, 148 approved it,
underscoring bipartisan support for a scheme that has been
deeply divisive in other major industrial nations, particularly
the United States and Australia.
The programme, due to start Jan 2015, opens the possibility
of international linkages with other schemes as part of global
efforts to curb the growth of carbon pollution that scientists
blame for heating up the planet and triggering more chaotic
(Reporting by Meeyoung Cho and Eunhye Shin; editing by David
Fogarty and Keiron Henderson)