The Korean Register of Shipping (KR) has been authorised 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 January 1, 2010, to provide a base for the country's voluntary 2020 emissions reduction target.
Under the authorisation, KR will give an independent verification of the greenhouse gas emissions assertions made by various public and private organisations participating in the scheme and provide assurances that their greenhouse gas emissions monitoring, measuring and inventory activities are properly managed and recorded.
"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," said Oh Kong-gyun, KR's Chairman and CEO.