A Study On The Emissions Trading System In The Seoul Metropolitan Area, Korea: Based On Experiences In The United States
This study aims to draw lessons from experiences with emissions trading programs in the US, and based on those lessons, to provide implications for the design and implementation of the new cap-and-trade program that is scheduled to begin in July 2007 in the Seoul Metropolitan Area in Korea. Major lessons from experiences with emissions trading programs in the US are as follows: well-designed cap-and-trade programs work, but they are not a cure-all; with respect to design, banking and minimal governmental intervention are needed. Initial allocations and opt-in provisions do not affect performance; for effective implementation, accurate and reliable measurement, enforcement, and compatibility with pre-existing regulations are important. Implications for Seoul, Korea are: minimizing governmental intervention, relaxing the restrictions on banking, creating public auction, introduction of opt-in provisions, accurate and consistent monitoring, effective enforcement, and ccompatibility with pre-existing regulations including emissions charges and fuel regulations.
- Theses and Dissertations