Good Practice: Korea's MRV/Compliance under the GHG and energy target managment system (TMS)
Since 2010, Korea has operated the Greenhouse Gas and Energy Target Management System (TMS) to manage industries that are both large GHG emitters and large energy consumers. Specifically, the TMS imposes GHG reduction and energy conservation targets on large businesses that are emitting more than 15,000 tCO2eq, but less than 25,000 tCO2eq whereas the GHG Emissions Trading Scheme (ETS) covers the industries that are emitting more than 25,000 tCO2eq1. The TMS in Korea is a temporary system that has been put in place as a tool to build capacities within industries and local governments and prepare for the ETS. Data collected under the TMS is also used to compile the national inventory2. The TMS is intended to be phased out and the ETS will remain in its place.