Tuesday Sep 25, 2012

South Korea Upcoming Cap and Trade Legislation

In my previous blogs I talked about climate change legislation trends in California, Australia and the European Union. In the next series of blogs, I am going to highlight how carbon trading and sustainability reporting legislation is evolving in other Asia Pacific countries, including South Korea, China, Japan, India and Taiwan - starting with South Korea.

South Korea passed legislation to begin a national cap-and-trade program in May 2012. Korea is the 8th biggest source of GHG emissions in the world and has a national target of cutting them 30% by 2020. South Korea's program will cover about 60% of emissions and will affect big emitters across the economy, including utilities, major manufacturers and even large universities. Emissions trading is scheduled to begin in Korea in 2015, the same year as in Australia and China.

Oracle Environmental Accounting and Reporting supports the needs of South Korea and helps ensure consistency across organizations in how data is collected, retained, controlled, consolidated and used in calculating and reporting emissions inventory. Learn more about the upcoming cap and trade legislation in South Korea and how to use Oracle Environmental Accounting and Reporting to meet those requirements here.

By Elena Avesani, Principal Product Strategy Manager, Oracle

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