Global Warming Solutions Act of 2006 a 30% reduction statewide, with mandatory caps beginning in 2012 for significant emissions sources. The bill also allows the Governor to suspend the emissions caps for up to a year in case of emergency or significant economic harm. The State of California leads the nation in energy efficiency standards and plays a lead role in environmental protection, but is also the 12th largest emitter of carbon worldwide. Greenhouse gas emissions are defined in the bill to include all of the following: carbon dioxide, methane, nitrous oxide, sulfur hexafluoride, hydrofluorocarbons and perfluorocarbons. These are the same greenhouse gases listed in Annex
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