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South Korea doubles 2013 emissions reduction target

Sun, 10/14/2012 - 9:25pm
Reuters

SEOUL (Reuters) - South Korea has doubled a target to reduce greenhouse gas emissions by local industrial and power sectors in 2013 to enhance competitiveness prior to a new cap-and-trade scheme starting in 2015, the economy ministry said on Monday.

Asia's fourth-largest economy aims to cut 17.2 million metric tons of CO2 equivalent or 3 percent of next year's expected emissions, compared with 8 million metric tons of CO2 reduction or 1.42 percent of this year's level, it said in a statement.

Seoul expects 570.6 million metric tons of CO2 equivalent gases to be emitted by 377 entities in its industrial and power sectors in 2013. The country's total emissions is seen at 589.8 million metric tons of CO2 next year, it added, and the industrial and power sectors are major emitters.

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