Carbon offset production flows to regions or industries that have a lower price of carbon—unless carbon can be purchased from that area, which offsets effectively permit, equalizing the price. Carbon offsets may represent six primary categories of greenhouse gases: carbon dioxide (), methane (CH), nitrous oxide (NO), perfluorocarbons (PFCs), hydrofluorocarbons (HFCs), and sulfur hexafluoride (SF). Carbon offsets have several common features: In 2009, 8.2 billion metric tons of carbon dioxide equivalent changed hands worldwide, up 68 per cent from 2008, according to the study by carbon-market research firm Point Carbon, of Washington and Oslo. But at EUR94 billion, or about $135 billion,
Emissions Trading Scheme in South Korea in the scheme: Carbon Dioxide, Methane, Nitrous Oxide, Hydrofluorocarbons, Perfluorocarbons, and Sulfur hexafluoride. More than 525 business entities are subject to the ETS with specific emission targets set for each sectors. Similar to that of the European Union, South Korea has divided its emissions trading scheme into three phases. With differing time spans and targets within each phase. The country is currently in its first phase which started in 2015 and lasts until 2017. The second phase occupies a 3-year-span from 2018 to 2020 and the final third phase is from 2021 to 2025. During Phase 1 all permits will