The international society adopted the Kyoto Protocol in 1997 and the Paris agreement in 2015 after signing on the United Nations Conference on Environment and Development (UNFCCC) in June 1992 to cope with the problem of climate change according to global warming. The Paris agreement is expected to be enacted in January 2021 and aims to maintain the increase of the average temperature of the earth by lower than two degrees through the reduction of greenhouse emissions and limit it to 1.5 degrees. Thus, all countries that signed on the Paris agreement are given the duty to make an effort to reduce greenhouse gas voluntarily. China is a country directly involved in joining the Paris agreement, making a lot of effort to keep the promise of the implementation by setting the objective of the reduction of carbon dioxide to 60 to 65% compared to that as of 2005 by 2030. In particular, it is operating carbon emissions trading exchanges in eight provinces and cities, adopting the Carbon Emissions Trading Scheme in 2013, and carbon emissions trading is actively done. Also, China has enacted laws and technical norms, such as “Carbon Emission Report Management Measures” and “Interim Measures for the Management of Carbon Emissions Trading” as the laws related to carbon emissions trading and is gathering opinions, announcing “Interim Regulations on the Management of Carbon Emissions Trading” on April 3, 2019 to standardize carbon emissions trading, improve the control and management of greenhouse gas emissions, promote the ecological civilization and promote the sustainable development of the economic society. Based on the Chinese government’s effort, as China showed a clear decreasing tendency of greenhouse gas emissions since 2015, China is putting spur to the preparation of legislation and the maintenance of the system to further expand the carbon emissions trading market nationwide. Meanwhile, after the Paris agreement came into effect in 2021, each country should make a lot of effort to implement the reduction objectives set by itself, and the Republic of Korea, a country directly involved in that cannot be an exception. Currently, the Republic of Korea also operating the Carbon Emissions Trading Scheme in the same form as that of China; however, it is not revitalized due to a few circumstances. And yet, it is judged that centering around the Carbon Emissions Trading Scheme, investigating China’s laws related to climate change response and making an active effort to revitalize the Republic of Korea’s carbon emissions trading market, analyzing the operation status. will help implement the duty to reduce carbon dioxide emissions in the future.
