Korean Carbon Units (KCUs), the offsets eligible for use in the nation’s emissions trading scheme, jumped 9.5% on the Korea Exchange (KRX) on Wednesday to close at 15,000 won ($12.24), a record high.
The main supply of offsets in the Korean carbon market comes from CERs that are cancelled from the UN registry and re-issued as Korean Offset Credits (KOCs), which can them be converted into KCUs. So far, near 6 million CERs have been converted into offsets for use in the Korean ETS.
Read the full story here: Carbon Pulse