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Korean Register to verify emissions trading

Korean Register to verify emissions trading

Seoul: The Korean Register of Shipping (KR) - an IACS member classification society - has been authorized by the Ministry of Environment of the Republic of Korea as a verification body for its pilot greenhouse gas emissions trading scheme. The scheme was launched on 1 January 2010 to provide a base for the country's voluntary 2020 emissions reduction target.

Under the authorization, KR will give an independent verification of the greenhouse gas emissions assertions made by various public and private organizations participating in the scheme and provide assurances that their greenhouse gas emissions monitoring, measuring and inventory activities are properly managed and recorded.

In addition, KR recently verified the accuracy of a carbon calculator which Hanjin Shipping has added to its website to allow customers to understand the amount of greenhouse gas emitted by their cargo for any given route. This further cements KR's role within the "green shipping" arena.

Oh Kong-gyun, KR's Chairman & CEO, commented: "The designation of KR as a verification body demonstrates the level of confidence that the government and the industry has in the technical competence of KR in the fast-growing field of environmental services. ... We will continue our extensive R&D work in this sector... (and) I look forward to KR making an increasing contribution in the future."

He added: "This new authority secures a more active involvement for KR in the 'Low Carbon, Green Growth' economic stimulus program recently initiated by the Korean government."  [07/01/10]